The Manufacturers Life Insurance Company Sells 778,723 Shares of Amdocs Limited (NASDAQ:DOX)

The Manufacturers Life Insurance Company lowered its holdings in Amdocs Limited (NASDAQ:DOX) by 98.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,838 shares of the technology company’s stock after selling 778,723 shares during the period. The Manufacturers Life Insurance Company’s holdings in Amdocs were worth $1,171,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of DOX. Pzena Investment Management LLC grew its position in shares of Amdocs by 33.2% in the 2nd quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock valued at $447,287,000 after acquiring an additional 1,412,826 shares during the period. Vanguard Group Inc. grew its position in shares of Amdocs by 39.5% in the 1st quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock valued at $183,771,000 after acquiring an additional 576,168 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Amdocs by 36.2% during the 2nd quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company’s stock worth $132,253,000 after buying an additional 444,966 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Amdocs by 22.7% during the 1st quarter. Acadian Asset Management LLC now owns 1,395,894 shares of the technology company’s stock worth $126,119,000 after buying an additional 258,343 shares during the period. Finally, LSV Asset Management boosted its holdings in shares of Amdocs by 7.9% during the 2nd quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock worth $253,109,000 after buying an additional 234,096 shares during the period. Institutional investors own 92.02% of the company’s stock.

Amdocs Stock Performance

NASDAQ DOX opened at $88.25 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $10.37 billion, a P/E ratio of 19.83, a P/E/G ratio of 1.42 and a beta of 0.74. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $94.04. The firm has a 50-day moving average price of $85.70 and a two-hundred day moving average price of $83.59.

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

Amdocs Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Monday, September 30th. Amdocs’s dividend payout ratio (DPR) is presently 42.92%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. StockNews.com raised shares of Amdocs from a “buy” rating to a “strong-buy” rating in a report on Thursday. Stifel Nicolaus assumed coverage on shares of Amdocs in a report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 target price for the company. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $102.00.

Amdocs Company 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.