Principal Financial Group Inc. Sells 263,724 Shares of Amdocs Limited (DOX)
Principal Financial Group Inc. decreased its position in Amdocs Limited (NASDAQ:DOX) by 92.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,038 shares of the technology company’s stock after selling 263,724 shares during the quarter. Principal Financial Group Inc.’s holdings in Amdocs were worth $1,353,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Boston Partners raised its stake in shares of Amdocs by 0.4% in the 3rd quarter. Boston Partners now owns 7,139,400 shares of the technology company’s stock valued at $459,206,000 after purchasing an additional 27,688 shares during the period. American Century Companies Inc. acquired a new stake in shares of Amdocs in the third quarter valued at about $11,934,000. Stevens Capital Management LP increased its position in shares of Amdocs by 46.4% in the third quarter. Stevens Capital Management LP now owns 70,435 shares of the technology company’s stock valued at $4,530,000 after acquiring an additional 22,315 shares during the last quarter. Seizert Capital Partners LLC increased its position in shares of Amdocs by 3.1% in the third quarter. Seizert Capital Partners LLC now owns 731,120 shares of the technology company’s stock valued at $47,026,000 after acquiring an additional 22,316 shares during the last quarter. Finally, Boston Financial Mangement LLC increased its position in shares of Amdocs by 7.1% in the third quarter. Boston Financial Mangement LLC now owns 102,036 shares of the technology company’s stock valued at $6,563,000 after acquiring an additional 6,749 shares during the last quarter. 93.25% of the stock is currently owned by hedge funds and other institutional investors.
DOX has been the topic of a number of recent research reports. Robert W. Baird reaffirmed a “hold” rating and issued a $66.00 target price on shares of Amdocs in a research report on Friday, October 20th. Oppenheimer reaffirmed a “buy” rating and issued a $77.00 target price on shares of Amdocs in a research report on Wednesday, September 27th. BidaskClub cut Amdocs from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 5th. Zacks Investment Research upgraded Amdocs from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a report on Friday, November 10th. Finally, Jefferies Group reiterated a “hold” rating and set a $70.00 price target on shares of Amdocs in a report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $70.29.
Amdocs Limited (DOX) opened at $64.91 on Wednesday. Amdocs Limited has a 1-year low of $56.10 and a 1-year high of $67.98. The company has a market capitalization of $9,469.88, a PE ratio of 18.40, a P/E/G ratio of 2.24 and a beta of 0.52.
Amdocs (NASDAQ:DOX) last posted its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.05. Amdocs had a return on equity of 14.77% and a net margin of 11.30%. The business had revenue of $979.70 million during the quarter, compared to analysts’ expectations of $977.72 million. During the same quarter last year, the company posted $0.89 earnings per share. Amdocs’s quarterly revenue was up 4.2% on a year-over-year basis. equities analysts expect that Amdocs Limited will post 3.72 earnings per share for the current fiscal year.
Amdocs announced that its Board of Directors has initiated a share repurchase program on Wednesday, November 8th that permits the company to buyback $800.00 million in shares. This buyback authorization permits the technology company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Thursday, December 28th. Amdocs’s payout ratio is currently 29.73%.
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Amdocs Limited is a provider of software and services for communications, entertainment and media industry service providers. The Company develops, implements and manages software and services associated with business support systems (BSS), operational support systems (OSS) and network operations to enable service providers to introduce new products and services, process orders, monetize data, support new business models and enhance their understanding of their customers.
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