Amdocs Limited (NASDAQ:DOX) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc reduced its position in Amdocs Limited (NASDAQ:DOX) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 90,832 shares of the technology company’s stock after selling 3,369 shares during the quarter. Marks Group Wealth Management Inc owned about 0.08% of Amdocs worth $7,733,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its stake in Amdocs by 8.3% during 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 during the last quarter. Mirabella Financial Services LLP raised its holdings in shares of Amdocs by 204.2% during the 3rd quarter. Mirabella Financial Services LLP now owns 14,302 shares of the technology company’s stock worth $1,250,000 after acquiring an additional 9,600 shares during the period. Victory Capital Management Inc. boosted its position in shares of Amdocs by 1.9% during the 3rd quarter. Victory Capital Management Inc. now owns 478,137 shares of the technology company’s stock valued at $41,827,000 after acquiring an additional 9,098 shares during the last quarter. Pacer Advisors Inc. grew its holdings 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 purchasing an additional 125,654 shares during the period. Finally, Crossmark Global Holdings Inc. grew its holdings 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 valued at $12,733,000 after purchasing an additional 37,516 shares during the period. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Amdocs Stock Up 0.6 %

Amdocs stock opened at $86.32 on Wednesday. The stock’s fifty day moving average is $85.90 and its two-hundred day moving average is $86.48. The stock has a market cap of $9.74 billion, a PE ratio of 20.03, a P/E/G ratio of 1.41 and a beta of 0.71. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $94.04. 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 (NASDAQ:DOX) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 earnings per share 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%. On average, sell-side analysts expect that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Monday, March 31st will be given a dividend of $0.527 per share. This is a positive change from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 2.44%. Amdocs’s payout ratio is 44.55%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Oppenheimer upped their price target on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. StockNews.com upgraded shares of Amdocs from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Barclays lowered their target price on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Amdocs presently has an average rating of “Buy” and an average target price of $101.20.

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.