Principal Financial Group Inc. Lowers Stake in Amdocs Limited (NASDAQ:DOX)

Principal Financial Group Inc. cut its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 0.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 776,103 shares of the technology company's stock after selling 4,804 shares during the period. Principal Financial Group Inc. owned about 0.69% of Amdocs worth $71,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. raised its position in shares of Amdocs by 86.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company's stock worth $143,127,000 after purchasing an additional 781,061 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Amdocs by 25.4% during the 4th quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company's stock worth $228,211,000 after purchasing an additional 543,490 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Amdocs during the 4th quarter worth about $44,494,000. Vanguard Group Inc. raised its position in shares of Amdocs by 16.1% during the 4th quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company's stock worth $261,756,000 after purchasing an additional 426,035 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Amdocs by 2,489.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 376,383 shares of the technology company's stock worth $32,045,000 after purchasing an additional 361,845 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Price Performance

DOX stock traded down $0.78 during mid-day trading on Monday, reaching $91.82. The company's stock had a trading volume of 605,231 shares, compared to its average volume of 660,358. The stock has a market cap of $10.37 billion, a PE ratio of 19.33, a P/E/G ratio of 1.53 and a beta of 0.52. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.21. Amdocs Limited has a fifty-two week low of $77.17 and a fifty-two week high of $95.41. The company's 50 day moving average is $91.39 and its two-hundred day moving average is $88.21.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The technology company reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.07. Amdocs had a net margin of 11.39% and a return on equity of 19.52%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the firm earned $1.56 EPS. Amdocs's quarterly revenue was down 9.4% on a year-over-year basis. Equities research analysts expect that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, June 30th will be paid a $0.527 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.11 annualized dividend and a dividend yield of 2.30%. Amdocs's dividend payout ratio (DPR) is 44.42%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th.

About Amdocs

Amdocs Limited, through its subsidiaries, provides software and services worldwide. It designs, develops, operates, implements, supports, and markets open and modular cloud portfolio. The company provides CES23, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; Amdocs Subscription Marketplace, a software-as-a-service-based platform that includes an expansive network of pre-integrated digital services, such as media, gaming, eLearning, sports, and retail to security and business services; the monetization suite for charging, billing, policy, and revenue management; Intelligent networking suite with a set of modular, flexible, and open service lifecycle management capabilities for network automation journeys; amAIz, a telco GenAI framework; Amdocs Digital Brands Suite, a pre-integrated digital business suite; and Amdocs eSIM Cloud for service providers.