Amdocs Limited (NASDAQ:DOX) Position Reduced by Van ECK Associates Corp

Van ECK Associates Corp trimmed its stake in shares of Amdocs Limited (NASDAQ:DOX) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,947 shares of the technology company’s stock after selling 1,516 shares during the quarter. Van ECK Associates Corp’s holdings in Amdocs were worth $2,975,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in DOX. Janus Henderson Group PLC lifted its position in shares of Amdocs by 1.7% in the 3rd quarter. Janus Henderson Group PLC now owns 6,625,875 shares of the technology company’s stock worth $579,632,000 after buying an additional 111,357 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of Amdocs by 12.3% in the 3rd quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company’s stock worth $556,700,000 after buying an additional 696,136 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Amdocs by 2.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,263,591 shares of the technology company’s stock worth $274,681,000 after buying an additional 87,801 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Amdocs by 0.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,136,932 shares of the technology company’s stock worth $186,939,000 after buying an additional 16,580 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Amdocs by 7.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock worth $154,587,000 after buying an additional 125,654 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors.

Amdocs Stock Down 0.3 %

Amdocs stock opened at $89.33 on Friday. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The stock has a market cap of $10.08 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 1.47 and a beta of 0.71. The company’s 50-day moving average price is $86.06 and its two-hundred day moving average price is $86.56. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22.

Amdocs (NASDAQ:DOX) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 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%. On average, analysts expect that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Monday, March 31st will be given a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.36%. This is an increase from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, March 31st. Amdocs’s payout ratio is 44.55%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on DOX shares. Oppenheimer raised their price target on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. StockNews.com cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, Barclays dropped their price objective on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. One 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, Amdocs currently has a consensus rating of “Moderate Buy” and an average target price of $101.20.

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.