Amdocs Limited (NASDAQ:DOX) Position Trimmed by Ballast Asset Management LP

Ballast Asset Management LP decreased its holdings in Amdocs Limited (NASDAQ:DOX) by 40.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 24,404 shares of the technology company’s stock after selling 16,790 shares during the period. Ballast Asset Management LP’s holdings in Amdocs were worth $2,078,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

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

Amdocs Stock Performance

DOX stock opened at $91.50 on Tuesday. The company has a market capitalization of $10.33 billion, a price-to-earnings ratio of 21.23, a P/E/G ratio of 1.47 and a beta of 0.68. The firm has a 50 day moving average of $88.02 and a two-hundred day moving average of $87.40. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. Amdocs Limited has a 12 month low of $74.41 and a 12 month high of $93.34.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 EPS for the current fiscal year.

Amdocs Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be paid a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.30%. 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 48.72%.

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.