C WorldWide Group Holding A S Reduces Holdings in Amdocs Limited (NASDAQ:DOX)

C WorldWide Group Holding A S reduced its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 18.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 22,278 shares of the technology company’s stock after selling 5,122 shares during the period. C WorldWide Group Holding A S’s holdings in Amdocs were worth $1,897,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its holdings in Amdocs by 8.3% during 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 acquiring an additional 127,426 shares in the last quarter. Mirabella Financial Services LLP increased its holdings in Amdocs by 204.2% during the 3rd quarter. Mirabella Financial Services LLP now owns 14,302 shares of the technology company’s stock valued at $1,250,000 after acquiring an additional 9,600 shares in the last quarter. Pacer Advisors Inc. grew its holdings 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 worth $154,587,000 after buying an additional 125,654 shares in the last quarter. Victory Capital Management Inc. grew its holdings 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 worth $41,827,000 after buying an additional 9,098 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its holdings in shares of Amdocs by 34.7% during the third quarter. Crossmark Global Holdings Inc. now owns 145,556 shares of the technology company’s stock worth $12,733,000 after buying an additional 37,516 shares in the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DOX has been the subject of a number of recent research reports. StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 19th. Oppenheimer lifted their price target on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Barclays lowered their price target on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.20.

Amdocs Price Performance

Amdocs stock opened at $87.91 on Monday. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $94.04. The firm has a 50 day moving average price of $86.07 and a 200 day moving average price of $86.66. The company has a market cap of $9.92 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.47 and a beta of 0.71. 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 released its 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 net margin of 10.19% and a return on equity of 18.89%. Sell-side analysts predict that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Investors of record on Monday, March 31st will be issued a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 2.40%. This is an increase from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, March 31st. Amdocs’s payout ratio is presently 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.