Amdocs Limited (NASDAQ:DOX) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its stake in Amdocs Limited (NASDAQ:DOX) by 17.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 548,774 shares of the technology company’s stock after selling 112,777 shares during the quarter. New York State Common Retirement Fund’s holdings in Amdocs were worth $46,723,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in DOX. Pzena Investment Management LLC grew its stake in Amdocs by 12.3% in the 3rd quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company’s stock valued at $556,700,000 after acquiring an additional 696,136 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in Amdocs by 123.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 759,136 shares of the technology company’s stock valued at $66,409,000 after acquiring an additional 419,045 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Amdocs by 1,207.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 271,701 shares of the technology company’s stock valued at $23,768,000 after acquiring an additional 250,918 shares during the period. Geode Capital Management LLC grew its stake in Amdocs by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,633,733 shares of the technology company’s stock valued at $143,498,000 after acquiring an additional 158,843 shares during the period. Finally, Rice Hall James & Associates LLC grew its stake in Amdocs by 338.3% in the 3rd quarter. Rice Hall James & Associates LLC now owns 167,023 shares of the technology company’s stock valued at $14,611,000 after acquiring an additional 128,919 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on DOX shares. 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. StockNews.com cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Oppenheimer lifted their target price 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. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $101.20.

Amdocs Stock Up 0.1 %

NASDAQ DOX opened at $89.60 on Thursday. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. The business’s fifty day simple moving average is $86.04 and its 200-day simple moving average is $86.54. The firm has a market cap of $10.11 billion, a PE ratio of 20.79, a P/E/G ratio of 1.45 and a beta of 0.71.

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

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s payout ratio is currently 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.