Amdocs Limited (NASDAQ:DOX) Shares Sold by Mather Group LLC.

Mather Group LLC. cut its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 40.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,113 shares of the technology company’s stock after selling 752 shares during the period. Mather Group LLC.’s holdings in Amdocs were worth $95,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Private Trust Co. NA grew its position in shares of Amdocs by 62.9% during the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock worth $27,000 after acquiring an additional 117 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Amdocs during the third quarter worth approximately $28,000. Catalyst Capital Advisors LLC purchased a new position in shares of Amdocs during the third quarter worth approximately $55,000. GAMMA Investing LLC grew its position in shares of Amdocs by 115.1% during the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock worth $70,000 after acquiring an additional 428 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Amdocs during the third quarter worth approximately $77,000. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DOX has been the topic of a number of research reports. StockNews.com upgraded shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Oppenheimer lifted their price objective on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Barclays lowered their price objective on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $101.20.

Amdocs Stock Performance

NASDAQ:DOX opened at $85.97 on Friday. The firm’s fifty day moving average price is $85.95 and its 200 day moving average price is $86.41. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $94.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market cap of $9.71 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 1.47 and a beta of 0.71.

Amdocs (NASDAQ:DOX) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a return on equity of 18.69% and a net margin of 9.85%. On average, sell-side analysts expect that Amdocs Limited will post 6.19 EPS for the current year.

Amdocs Increases Dividend

The business also recently announced 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 is a positive change from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Monday, March 31st. Amdocs’s payout ratio is presently 45.28%.

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.