Amdocs Limited (NASDAQ:DOX) Stock Position Lowered by abrdn plc

abrdn plc lessened its position in Amdocs Limited (NASDAQ:DOX) by 5.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 427,960 shares of the technology company’s stock after selling 26,333 shares during the quarter. abrdn plc’s holdings in Amdocs were worth $36,437,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of DOX. Allspring Global Investments Holdings LLC raised its position in shares of Amdocs by 36.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company’s stock worth $277,818,000 after purchasing an additional 851,022 shares during the period. Pzena Investment Management LLC raised its position in shares of Amdocs by 12.3% during the third quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company’s stock worth $556,700,000 after purchasing an additional 696,136 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in shares of Amdocs by 123.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 759,136 shares of the technology company’s stock worth $66,409,000 after purchasing an additional 419,045 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Amdocs by 1,207.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 271,701 shares of the technology company’s stock worth $23,768,000 after purchasing an additional 250,918 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Amdocs by 10.8% during the third quarter. Geode Capital Management LLC now owns 1,633,733 shares of the technology company’s stock worth $143,498,000 after purchasing an additional 158,843 shares during the period. Institutional investors own 92.02% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DOX. StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Oppenheimer lifted their price target on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Barclays lowered their price target on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Amdocs currently has an average rating of “Buy” and a consensus target price of $101.20.

Amdocs Stock Performance

Shares of NASDAQ DOX opened at $88.14 on Thursday. The business’s 50-day moving average price is $85.96 and its two-hundred day moving average price is $86.40. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.20. Amdocs Limited has a one year low of $74.41 and a one year high of $94.04. The company has a market capitalization of $9.95 billion, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 1.47 and a beta of 0.71.

Amdocs (NASDAQ:DOX) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.19). Amdocs had a net margin of 9.85% and a return on equity of 18.69%. Analysts anticipate that Amdocs Limited will post 6.19 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Monday, March 31st will be paid a $0.527 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 2.39%. This is an increase from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s payout ratio is 44.32%.

Amdocs Profile

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.