Groesbeck Investment Management Corp NJ Lowers Position in Amdocs Limited (NASDAQ:DOX)

Groesbeck Investment Management Corp NJ lessened its position in Amdocs Limited (NASDAQ:DOX) by 32.6% in the fourth quarter, HoldingsChannel reports. The firm owned 4,962 shares of the technology company’s stock after selling 2,400 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in Amdocs were worth $422,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in DOX. Private Trust Co. NA lifted its stake in shares of Amdocs by 62.9% in the 3rd 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 period. Brooklyn Investment Group purchased a new position in Amdocs during the third quarter valued at $28,000. Catalyst Capital Advisors LLC purchased a new position in Amdocs during the third quarter valued at $55,000. GAMMA Investing LLC raised its stake in Amdocs by 115.1% during the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after buying an additional 428 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Amdocs during the third quarter valued at $77,000. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Amdocs Price Performance

Shares of Amdocs stock opened at $86.86 on Wednesday. The stock’s 50-day simple moving average is $85.96 and its 200-day simple moving average is $86.40. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The company has a market capitalization of $9.81 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 1.47 and a beta of 0.71. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX) last posted its earnings results 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 18.69% and a net margin of 9.85%. As a group, analysts expect that Amdocs Limited will post 6.19 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a $0.479 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.21%. Amdocs’s dividend payout ratio is currently 45.28%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DOX. Oppenheimer lifted their price objective on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Barclays cut their price objective on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Finally, StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.