PNC Financial Services Group Inc. Reduces Position in Amdocs Limited (NASDAQ:DOX)

PNC Financial Services Group Inc. decreased its holdings in Amdocs Limited (NASDAQ:DOX) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,070 shares of the technology company’s stock after selling 335 shares during the period. PNC Financial Services Group Inc.’s holdings in Amdocs were worth $432,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of DOX. Private Trust Co. NA raised its position in shares of Amdocs by 62.9% in the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock worth $27,000 after buying an additional 117 shares in the last quarter. Brooklyn Investment Group bought a new position in Amdocs in the 3rd quarter worth about $28,000. Jones Financial Companies Lllp purchased a new stake in shares of Amdocs in the 4th quarter valued at about $36,000. SBI Securities Co. Ltd. bought a new stake in shares of Amdocs during the 4th quarter valued at about $41,000. Finally, Global Retirement Partners LLC grew its holdings in shares of Amdocs by 45.6% during the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock worth $48,000 after purchasing an additional 175 shares in the last quarter. Institutional investors own 92.02% of the company’s stock.

Amdocs Stock Performance

Shares of NASDAQ DOX opened at $88.32 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. The firm’s 50-day moving average price is $87.08 and its 200-day moving average price is $87.14. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $93.34. The company has a market cap of $9.97 billion, a PE ratio of 20.49, a PEG ratio of 1.47 and a beta of 0.68.

Amdocs (NASDAQ:DOX) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts anticipate that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.527 per share. The ex-dividend date is Monday, March 31st. This is a boost from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 dividend on an annualized basis and a yield of 2.39%. Amdocs’s dividend payout ratio (DPR) is currently 48.72%.

Analyst Ratings Changes

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