Advisors Asset Management Inc. Trims Holdings in Amdocs Limited (NASDAQ:DOX)

Advisors Asset Management Inc. decreased its stake in shares of Amdocs Limited (NASDAQ:DOX) by 19.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,731 shares of the technology company’s stock after selling 6,564 shares during the quarter. Advisors Asset Management Inc.’s holdings in Amdocs were worth $2,361,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Pzena Investment Management LLC increased its stake in Amdocs by 4.3% during the fourth quarter. Pzena Investment Management LLC now owns 6,634,549 shares of the technology company’s stock worth $564,866,000 after acquiring an additional 270,810 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Amdocs by 1.7% in the third quarter. Janus Henderson Group PLC now owns 6,625,875 shares of the technology company’s stock valued at $579,632,000 after buying an additional 111,357 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Amdocs by 2.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,263,591 shares of the technology company’s stock valued at $274,681,000 after buying an additional 87,801 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Amdocs by 0.8% in the third quarter. Wellington Management Group LLP now owns 2,136,932 shares of the technology company’s stock valued at $186,939,000 after buying an additional 16,580 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of 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. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut 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, Amdocs presently has a consensus rating of “Moderate Buy” and an average price target of $101.20.

Amdocs Trading Down 0.1 %

DOX opened at $88.27 on Friday. Amdocs Limited has a 12 month low of $74.41 and a 12 month high of $93.34. The stock has a market capitalization of $9.96 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.47 and a beta of 0.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20. The business has a fifty day moving average price of $87.21 and a 200 day moving average price of $87.15.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share (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 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 issued a $0.527 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.39%. This is a boost from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s dividend payout ratio is currently 48.72%.

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.