Rhumbline Advisers Trims Stake in Amdocs Limited (NASDAQ:DOX)

Rhumbline Advisers reduced its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 263,455 shares of the technology company’s stock after selling 7,226 shares during the period. Rhumbline Advisers owned about 0.23% of Amdocs worth $22,431,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Nordea Investment Management AB boosted its position in shares of Amdocs by 8.3% in the fourth quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company’s stock worth $141,112,000 after purchasing an additional 127,426 shares during the period. Mirabella Financial Services LLP boosted its position in shares of Amdocs by 204.2% in the third quarter. Mirabella Financial Services LLP now owns 14,302 shares of the technology company’s stock worth $1,250,000 after purchasing an additional 9,600 shares during the period. Pacer Advisors Inc. boosted its position in shares of Amdocs by 7.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock worth $154,587,000 after purchasing an additional 125,654 shares during the period. Victory Capital Management Inc. boosted its position in shares of Amdocs by 1.9% in the third quarter. Victory Capital Management Inc. now owns 478,137 shares of the technology company’s stock worth $41,827,000 after purchasing an additional 9,098 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its position in shares of Amdocs by 34.7% in the third quarter. Crossmark Global Holdings Inc. now owns 145,556 shares of the technology company’s stock worth $12,733,000 after purchasing an additional 37,516 shares during the period. 92.02% of the stock is currently owned by institutional investors.

Amdocs Price Performance

Shares of NASDAQ DOX opened at $89.33 on Friday. The firm has a market cap of $10.08 billion, a PE ratio of 20.73, a PEG ratio of 1.47 and a beta of 0.71. The firm has a fifty day moving average of $86.06 and a 200 day moving average of $86.56. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. Amdocs Limited has a one year low of $74.41 and a one year high of $94.04.

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, research analysts predict that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Investors of record on Monday, March 31st will be issued a $0.527 dividend. This is a positive change from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 annualized dividend and a yield of 2.36%. The ex-dividend date is Monday, March 31st. Amdocs’s payout ratio is 44.55%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on DOX shares. Barclays dropped their target price on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Oppenheimer upped their target price 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. Finally, StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.