Asset Management One Co. Ltd. Lowers Position in Amdocs Limited (NASDAQ:DOX)

Asset Management One Co. Ltd. cut its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 6.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,030 shares of the technology company’s stock after selling 145 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Amdocs were worth $174,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Private Trust Co. NA grew its holdings in shares of Amdocs by 62.9% during the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock worth $27,000 after purchasing an additional 117 shares during the period. Brooklyn Investment Group acquired a new position in Amdocs during the 3rd quarter worth about $28,000. Catalyst Capital Advisors LLC acquired a new position in Amdocs during the 3rd quarter worth about $55,000. Meeder Asset Management Inc. acquired a new position in Amdocs during the 3rd quarter worth about $77,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Amdocs during the 3rd quarter worth about $130,000. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Price Performance

DOX stock opened at $89.33 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20. The firm has a market capitalization of $10.08 billion, a P/E ratio of 20.73, a P/E/G ratio of 1.47 and a beta of 0.71. The business’s 50-day moving average is $86.06 and its two-hundred day moving average is $86.56. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $94.04.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings results 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 net margin of 10.19% and a return on equity of 18.89%. Analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Monday, March 31st will be given a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a dividend yield of 2.36%. 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 dividend payout ratio (DPR) is 44.55%.

Analysts Set New Price Targets

DOX has been the topic of several research reports. Barclays decreased their target price on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Oppenheimer increased their target price on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.20.

About Amdocs

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.