Amdocs Limited (NASDAQ:DOX) Stake Lessened by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. trimmed its position in Amdocs Limited (NASDAQ:DOX) by 39.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,617 shares of the technology company’s stock after selling 6,218 shares during the period. Daiwa Securities Group Inc.’s holdings in Amdocs were worth $759,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Private Advisor Group LLC lifted its holdings in shares of Amdocs by 58.7% in the 4th quarter. Private Advisor Group LLC now owns 5,491 shares of the technology company’s stock worth $483,000 after purchasing an additional 2,031 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Amdocs by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 171,456 shares of the technology company’s stock worth $15,069,000 after acquiring an additional 5,211 shares during the period. Principal Securities Inc. bought a new position in Amdocs during the 4th quarter valued at $63,000. Avantax Advisory Services Inc. grew its holdings in Amdocs by 13.3% during the fourth quarter. Avantax Advisory Services Inc. now owns 6,815 shares of the technology company’s stock worth $599,000 after acquiring an additional 799 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Amdocs by 22.2% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 5,664 shares of the technology company’s stock worth $498,000 after purchasing an additional 1,029 shares in the last quarter. 92.02% of the stock is currently owned by institutional investors.

Amdocs Price Performance

NASDAQ DOX opened at $86.49 on Monday. The stock has a 50-day simple moving average of $84.08 and a 200 day simple moving average of $84.14. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $94.04. The stock has a market capitalization of $10.17 billion, a PE ratio of 19.44, a P/E/G ratio of 1.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.02. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.25 billion. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.41 earnings per share. Research analysts anticipate that Amdocs Limited will post 5.67 EPS for the current year.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th 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 2.22%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs’s dividend payout ratio is presently 43.15%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Friday. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $102.50.

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.