CIBC Private Wealth Group LLC Sells 369 Shares of Amdocs Limited (NASDAQ:DOX)

CIBC Private Wealth Group LLC cut its holdings in Amdocs Limited (NASDAQ:DOX) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,559 shares of the technology company’s stock after selling 369 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Amdocs were worth $384,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp acquired a new stake in Amdocs in the 4th quarter valued at about $36,000. SBI Securities Co. Ltd. bought a new stake in shares of Amdocs during the fourth quarter valued at approximately $41,000. Global Retirement Partners LLC increased its holdings in shares of Amdocs by 45.6% in the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock valued at $48,000 after purchasing an additional 175 shares in the last quarter. Private Trust Co. NA raised its position in Amdocs by 121.5% in the 4th quarter. Private Trust Co. NA now owns 671 shares of the technology company’s stock worth $57,000 after purchasing an additional 368 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Amdocs by 199.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 686 shares of the technology company’s stock worth $59,000 after buying an additional 457 shares in the last quarter. 92.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $101.20.

Amdocs Trading Down 5.2 %

Shares of NASDAQ DOX opened at $83.70 on Friday. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $93.34. The firm has a market capitalization of $9.45 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.47 and a beta of 0.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20. The company’s 50 day simple moving average is $88.29 and its 200 day simple moving average is $87.45.

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

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be paid a $0.527 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.52%. Amdocs’s dividend payout ratio is 48.72%.

About Amdocs

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.