Navellier & Associates Inc. Lowers Position in Amdocs Limited (NASDAQ:DOX)

Navellier & Associates Inc. lessened its holdings in Amdocs Limited (NASDAQ:DOX) by 18.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,889 shares of the technology company’s stock after selling 903 shares during the period. Navellier & Associates Inc.’s holdings in Amdocs were worth $331,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB raised its position in shares of Amdocs by 8.3% in the fourth quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company’s stock worth $141,112,000 after buying an additional 127,426 shares in the last quarter. Mirabella Financial Services LLP raised its position in shares of Amdocs by 204.2% in the third quarter. Mirabella Financial Services LLP now owns 14,302 shares of the technology company’s stock worth $1,250,000 after buying an additional 9,600 shares in the last quarter. Pacer Advisors Inc. raised its position 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 worth $154,587,000 after buying an additional 125,654 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Amdocs by 1.9% in 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. raised its position in shares of Amdocs by 34.7% in 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. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays lowered their price target on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, Oppenheimer raised their price target on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.20.

Amdocs Stock Performance

Shares of DOX opened at $87.91 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20. Amdocs Limited has a one year low of $74.41 and a one year high of $94.04. The company has a 50-day simple moving average of $86.07 and a two-hundred day simple moving average of $86.66. The firm has a market capitalization of $9.92 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.47 and a beta of 0.71.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a return on equity of 18.89% and a net margin of 10.19%. On average, analysts anticipate that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a dividend yield of 2.40%. This is a positive change from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, March 31st. Amdocs’s dividend payout ratio (DPR) is presently 48.72%.

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.