Daiwa Securities Group Inc. Reduces Position in Amdocs Limited (NASDAQ:DOX)

Daiwa Securities Group Inc. lessened its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 2.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 9,366 shares of the technology company’s stock after selling 251 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Amdocs were worth $797,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Nordea Investment Management AB boosted its position in shares of Amdocs by 8.3% during the fourth quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company’s stock valued at $141,112,000 after buying an additional 127,426 shares during the period. Mirabella Financial Services LLP boosted its position in shares of Amdocs by 204.2% during the third quarter. Mirabella Financial Services LLP now owns 14,302 shares of the technology company’s stock valued at $1,250,000 after buying an additional 9,600 shares during the period. Victory Capital Management Inc. boosted its position in shares of Amdocs by 1.9% during the third quarter. Victory Capital Management Inc. now owns 478,137 shares of the technology company’s stock valued at $41,827,000 after buying an additional 9,098 shares during the period. Pacer Advisors Inc. boosted its position in shares of Amdocs by 7.4% during 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 during the period. Finally, Dudley & Shanley Inc. boosted its position in shares of Amdocs by 7.6% during the third quarter. Dudley & Shanley Inc. now owns 261,826 shares of the technology company’s stock valued at $22,905,000 after buying an additional 18,600 shares during the period. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered 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 given a buy rating to the stock. Based on data from MarketBeat.com, Amdocs currently has an average rating of “Moderate Buy” and an average target price of $101.20.

Amdocs Stock Up 1.6 %

Shares of NASDAQ DOX opened at $87.99 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.47 and a beta of 0.68. The stock has a 50 day moving average price of $86.71 and a 200 day moving average price of $87.07. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $93.34.

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 return on equity of 18.89% and a net margin of 10.19%. Sell-side analysts expect that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be paid a $0.527 dividend. This is an increase from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 2.40%. Amdocs’s payout ratio is 48.72%.

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.