Howe & Rusling Inc. Sells 6,656 Shares of Amdocs Limited (NASDAQ:DOX)

Howe & Rusling Inc. trimmed its position in Amdocs Limited (NASDAQ:DOX) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 97,887 shares of the technology company’s stock after selling 6,656 shares during the quarter. Howe & Rusling Inc.’s holdings in Amdocs were worth $8,334,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Private Trust Co. NA increased its holdings 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 valued at $27,000 after purchasing an additional 117 shares during the last quarter. Brooklyn Investment Group acquired a new position in Amdocs in the 3rd quarter valued at about $28,000. Jones Financial Companies Lllp acquired a new stake in Amdocs during the fourth quarter worth approximately $36,000. SBI Securities Co. Ltd. bought a new stake in shares of Amdocs during the fourth quarter worth approximately $41,000. Finally, Global Retirement Partners LLC grew its position in shares of Amdocs by 45.6% in the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock valued at $48,000 after purchasing an additional 175 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Stock Up 1.7 %

NASDAQ DOX opened at $91.97 on Thursday. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. The company has a market cap of $10.38 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 1.47 and a beta of 0.68. The company has a 50 day moving average of $87.62 and a 200-day moving average of $87.26. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $93.34.

Amdocs (NASDAQ:DOX) last released its earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share 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%. On average, equities research analysts expect that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be given a dividend of $0.527 per share. This is an increase from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 annualized dividend and a yield of 2.29%. The ex-dividend date is Monday, March 31st. Amdocs’s payout ratio is currently 48.72%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.