Amdocs Limited $DOX Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in Amdocs Limited (NASDAQ:DOX) by 4.4% in the 4th quarter, Holdings Channel reports. The firm owned 693,644 shares of the technology company’s stock after selling 32,185 shares during the quarter. Principal Financial Group Inc.’s holdings in Amdocs were worth $55,846,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new stake in Amdocs in the 3rd quarter valued at $26,000. WealthCollab LLC increased its holdings in Amdocs by 94.5% in the 3rd quarter. WealthCollab LLC now owns 356 shares of the technology company’s stock valued at $29,000 after purchasing an additional 173 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Amdocs in the 3rd quarter valued at $37,000. Abich Financial Wealth Management LLC acquired a new stake in Amdocs in the 3rd quarter valued at $39,000. Finally, Advisory Services Network LLC acquired a new stake in Amdocs in the 3rd quarter valued at $42,000. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Stock Performance

NASDAQ:DOX opened at $63.75 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a 50-day moving average of $66.05 and a two-hundred day moving average of $74.40. The stock has a market cap of $6.88 billion, a P/E ratio of 12.33, a PEG ratio of 1.15 and a beta of 0.40. Amdocs Limited has a 1-year low of $62.75 and a 1-year high of $95.41.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Tuesday, February 3rd. The technology company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Amdocs had a net margin of 12.47% and a return on equity of 20.19%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.66 EPS. On average, research analysts expect that Amdocs Limited will post 6.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Amdocs in a report on Tuesday, January 27th. Wall Street Zen upgraded Amdocs from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Stifel Nicolaus lowered their price target on Amdocs from $97.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Finally, Barclays decreased their price objective on shares of Amdocs from $111.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Amdocs has an average rating of “Moderate Buy” and a consensus price target of $92.33.

About Amdocs

Amdocs (NASDAQ: DOX) is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs’ product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra’anana, Israel.