Amdocs Limited (NASDAQ:DOX) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its holdings in Amdocs Limited (NASDAQ:DOX) by 0.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 468,603 shares of the technology company’s stock after selling 3,465 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Amdocs were worth $39,897,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its stake in shares of Amdocs by 8.3% in the 4th quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company’s stock valued at $141,112,000 after purchasing an additional 127,426 shares during the period. Pacer Advisors Inc. increased its holdings in Amdocs by 7.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock valued at $154,587,000 after buying an additional 125,654 shares in the last quarter. Dudley & Shanley Inc. raised its position in shares of Amdocs by 7.6% in the third quarter. Dudley & Shanley Inc. now owns 261,826 shares of the technology company’s stock worth $22,905,000 after acquiring an additional 18,600 shares during the period. Range Financial Group LLC purchased a new stake in shares of Amdocs during the 4th quarter worth about $1,376,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Amdocs by 5.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 207,137 shares of the technology company’s stock valued at $18,120,000 after acquiring an additional 11,179 shares during the period. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Stock Performance

DOX opened at $83.70 on Friday. The firm’s fifty day simple moving average is $88.29 and its two-hundred day simple moving average is $87.45. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $93.34. The company has a market cap of $9.45 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.47 and a beta of 0.68. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22.

Amdocs (NASDAQ:DOX) last issued its quarterly 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%. Equities analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be given a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a dividend yield of 2.52%. This is a boost from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, March 31st. Amdocs’s payout ratio is presently 48.72%.

Analysts Set New Price Targets

Separately, StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Amdocs has a consensus rating of “Moderate Buy” and a consensus target price 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.