Cambiar Investors LLC Sells 12,763 Shares of Amdocs Limited (NASDAQ:DOX)

Cambiar Investors LLC trimmed its holdings in Amdocs Limited (NASDAQ:DOX) by 10.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 114,642 shares of the technology company’s stock after selling 12,763 shares during the quarter. Cambiar Investors LLC owned 0.10% of Amdocs worth $9,761,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Millennium Management LLC raised its holdings in Amdocs by 11.7% during the 2nd quarter. Millennium Management LLC now owns 45,804 shares of the technology company’s stock valued at $3,615,000 after buying an additional 4,815 shares during the last quarter. GAMMA Investing LLC increased its position in Amdocs by 115.1% during the 3rd quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after purchasing an additional 428 shares during the period. Gateway Investment Advisers LLC grew its position in shares of Amdocs by 64.1% in the 3rd quarter. Gateway Investment Advisers LLC now owns 4,779 shares of the technology company’s stock worth $418,000 after buying an additional 1,866 shares during the period. Creative Planning grew its position in shares of Amdocs by 37.3% in the 3rd quarter. Creative Planning now owns 15,111 shares of the technology company’s stock worth $1,322,000 after buying an additional 4,104 shares during the period. Finally, Twelve Points Wealth Management LLC purchased a new stake in shares of Amdocs in the 3rd quarter worth about $231,000. 92.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DOX shares. Oppenheimer upped their price target on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Barclays lowered their target price on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Finally, StockNews.com upgraded shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $101.20.

Amdocs Price Performance

Shares of NASDAQ:DOX opened at $85.80 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $94.04. The company has a market capitalization of $9.69 billion, a P/E ratio of 19.91, a P/E/G ratio of 1.41 and a beta of 0.71. The firm’s 50 day simple moving average is $85.94 and its two-hundred day simple moving average is $86.47.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. Research analysts expect that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Monday, March 31st will be given a dividend of $0.527 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 2.46%. This is a boost from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s dividend payout ratio (DPR) is presently 44.55%.

Amdocs Company 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.