State of Alaska Department of Revenue Sells 8,710 Shares of Amdocs Limited (NASDAQ:DOX)

State of Alaska Department of Revenue trimmed its position in shares of Amdocs Limited (NASDAQ:DOX) by 6.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 137,168 shares of the technology company’s stock after selling 8,710 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.12% of Amdocs worth $12,395,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Dudley & Shanley Inc. boosted its position in Amdocs by 1.0% during the 1st quarter. Dudley & Shanley Inc. now owns 263,050 shares of the technology company’s stock valued at $23,772,000 after acquiring an additional 2,600 shares in the last quarter. Wasatch Advisors LP purchased a new position in shares of Amdocs during the first quarter valued at approximately $1,943,000. Diversified Trust Co lifted its holdings in shares of Amdocs by 43.9% during the first quarter. Diversified Trust Co now owns 64,792 shares of the technology company’s stock valued at $5,855,000 after purchasing an additional 19,774 shares during the last quarter. Norwood Financial Corp purchased a new position in shares of Amdocs during the first quarter valued at approximately $33,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Amdocs by 1.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 62,367 shares of the technology company’s stock valued at $5,636,000 after purchasing an additional 1,036 shares during the last quarter. 92.02% of the stock is owned by institutional investors.

Amdocs Price Performance

Shares of DOX opened at $78.13 on Thursday. The firm has a market cap of $9.18 billion, a PE ratio of 17.56, a P/E/G ratio of 1.40 and a beta of 0.74. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.21. The firm has a fifty day simple moving average of $80.08 and a two-hundred day simple moving average of $86.48. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $98.55.

Amdocs (NASDAQ:DOX) last announced its earnings results on Wednesday, May 8th. The technology company reported $1.38 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.05). The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Amdocs had a net margin of 10.62% and a return on equity of 17.85%. On average, equities analysts anticipate that Amdocs Limited will post 5.72 EPS for the current year.

Amdocs Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be given a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Friday, June 28th. Amdocs’s payout ratio is 43.15%.

Analysts Set New Price Targets

DOX has been the subject of several recent research reports. StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. Citigroup decreased their price objective on shares of Amdocs from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, Robert W. Baird decreased their price objective on shares of Amdocs from $97.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $103.80.

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.