Meitav Investment House Ltd. Sells 1,500 Shares of Amdocs Limited (NASDAQ:DOX)

Meitav Investment House Ltd. trimmed its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 34.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,843 shares of the technology company’s stock after selling 1,500 shares during the period. Meitav Investment House Ltd.’s holdings in Amdocs were worth $242,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DOX. Nordea Investment Management AB raised its position in Amdocs by 8.3% in the fourth quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company’s stock worth $141,112,000 after acquiring an additional 127,426 shares during the period. Mirabella Financial Services LLP raised its holdings in shares of Amdocs by 204.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 14,302 shares of the technology company’s stock worth $1,250,000 after purchasing an additional 9,600 shares during the period. Pacer Advisors Inc. lifted its stake in Amdocs by 7.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock valued at $154,587,000 after purchasing an additional 125,654 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Amdocs by 1.9% in the third quarter. Victory Capital Management Inc. now owns 478,137 shares of the technology company’s stock valued at $41,827,000 after purchasing an additional 9,098 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its holdings in Amdocs by 34.7% during the third quarter. Crossmark Global Holdings Inc. now owns 145,556 shares of the technology company’s stock valued at $12,733,000 after purchasing an additional 37,516 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on DOX shares. Oppenheimer upped their price target on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Barclays dropped their price objective on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Finally, StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Amdocs currently has a consensus rating of “Moderate Buy” and an average price target of $101.20.

Amdocs Stock Performance

NASDAQ:DOX opened at $89.33 on Friday. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $94.04. The business’s fifty day moving average is $86.06 and its 200 day moving average is $86.56. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. The firm has a market cap of $10.08 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 1.47 and a beta of 0.71.

Amdocs (NASDAQ:DOX) last announced 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 predict that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Monday, March 31st will be issued a $0.527 dividend. This represents a $2.11 annualized dividend and a yield of 2.36%. This is an increase from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, March 31st. Amdocs’s dividend payout ratio (DPR) is presently 44.55%.

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.