Principal Financial Group Inc. cut its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 8.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 284,762 shares of the technology company’s stock after selling 24,918 shares during the period. Principal Financial Group Inc. owned approximately 0.20% of Amdocs Limited worth $18,355,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Robecosam AG purchased a new stake in shares of Amdocs Limited during the first quarter valued at $114,000. Atria Investments LLC purchased a new stake in shares of Amdocs Limited during the second quarter valued at $218,000. HighTower Advisors LLC purchased a new stake in shares of Amdocs Limited during the first quarter valued at $220,000. ProShare Advisors LLC purchased a new stake in shares of Amdocs Limited during the first quarter valued at $224,000. Finally, Prudential Financial Inc. purchased a new stake in shares of Amdocs Limited during the second quarter valued at $230,000. 89.31% of the stock is currently owned by institutional investors.
Amdocs Limited (DOX) opened at 63.41 on Friday. Amdocs Limited has a 12 month low of $54.91 and a 12 month high of $67.98. The firm has a 50-day moving average price of $64.42 and a 200 day moving average price of $63.43. The stock has a market capitalization of $9.22 billion, a PE ratio of 22.09 and a beta of 0.53.
Amdocs Limited (NASDAQ:DOX) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.06. The business had revenue of $967.00 million for the quarter, compared to the consensus estimate of $967.04 million. Amdocs Limited had a return on equity of 14.75% and a net margin of 11.11%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 EPS. Equities analysts anticipate that Amdocs Limited will post $3.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.88 annualized dividend and a yield of 1.39%. Amdocs Limited’s payout ratio is presently 30.66%.
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Several research analysts have issued reports on the company. Barclays PLC reissued a “hold” rating and issued a $68.00 target price on shares of Amdocs Limited in a research report on Friday, August 4th. Zacks Investment Research raised Amdocs Limited from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Friday, August 4th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $70.00 target price on shares of Amdocs Limited in a research report on Tuesday, September 5th. BidaskClub raised Amdocs Limited from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $59.00 target price on shares of Amdocs Limited in a research report on Friday, June 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. Amdocs Limited has an average rating of “Hold” and an average price target of $67.63.
Amdocs Limited Profile
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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