Amdocs Limited (NASDAQ:DOX) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lowered its stake in Amdocs Limited (NASDAQ:DOX) by 3.6% during the fourth quarter, HoldingsChannel reports. The firm owned 90,832 shares of the technology company’s stock after selling 3,369 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Amdocs were worth $7,733,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Private Trust Co. NA lifted its position in Amdocs by 62.9% in the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after purchasing an additional 117 shares during the period. Brooklyn Investment Group purchased a new position in shares of Amdocs during the 3rd quarter worth approximately $28,000. Catalyst Capital Advisors LLC purchased a new position in shares of Amdocs during the 3rd quarter worth approximately $55,000. GAMMA Investing LLC lifted its holdings in shares of Amdocs by 115.1% in the 3rd quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after buying an additional 428 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Amdocs in the third quarter valued at approximately $77,000. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Stock Up 0.6 %

Amdocs stock opened at $86.32 on Wednesday. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $94.04. The firm has a market capitalization of $9.74 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 1.41 and a beta of 0.71. The stock’s fifty day moving average is $85.90 and its two-hundred day moving average is $86.48. 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 (NASDAQ:DOX) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 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 predict that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.44%. This is a boost from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, March 31st. Amdocs’s dividend payout ratio (DPR) is 44.55%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DOX. StockNews.com upgraded Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Oppenheimer increased their price target on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Barclays decreased their price objective on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Amdocs has an average rating of “Buy” and an average price target of $101.20.

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.