Amdocs Limited (NASDAQ:DOX) Shares Sold by Mather Group LLC.

Mather Group LLC. trimmed its holdings in Amdocs Limited (NASDAQ:DOX) by 9.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,430 shares of the technology company’s stock after selling 264 shares during the quarter. Mather Group LLC.’s holdings in Amdocs were worth $214,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in shares of Amdocs in the 3rd quarter valued at about $96,934,000. Invesco Ltd. raised its holdings in shares of Amdocs by 31.0% in the third quarter. Invesco Ltd. now owns 2,629,346 shares of the technology company’s stock valued at $222,153,000 after buying an additional 621,962 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Amdocs by 333.7% during the third quarter. Qube Research & Technologies Ltd now owns 449,788 shares of the technology company’s stock worth $38,003,000 after buying an additional 346,071 shares during the period. Meitav Investment House Ltd. increased its position in Amdocs by 2,132.9% in the 3rd quarter. Meitav Investment House Ltd. now owns 299,214 shares of the technology company’s stock valued at $25,609,000 after acquiring an additional 285,814 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Amdocs by 39.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 796,767 shares of the technology company’s stock valued at $67,319,000 after purchasing an additional 224,518 shares during the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Price Performance

Amdocs stock opened at $83.90 on Friday. The company has a market cap of $9.86 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 1.35 and a beta of 0.70. Amdocs Limited has a one year low of $78.38 and a one year high of $99.75. The business has a fifty day moving average of $88.95 and a two-hundred day moving average of $87.39. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.29 and a current ratio of 1.29.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.40 by $0.16. Amdocs had a net margin of 11.30% and a return on equity of 17.79%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter last year, the business earned $1.33 earnings per share. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, analysts predict that Amdocs Limited will post 5.87 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, March 29th were paid a $0.479 dividend. This is an increase from Amdocs’s previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a yield of 2.28%. The ex-dividend date was Wednesday, March 27th. Amdocs’s dividend payout ratio (DPR) is presently 41.11%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DOX. StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 15th. Citigroup upped their price objective on shares of Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Barclays lifted their target price on shares of Amdocs from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Amdocs presently has a consensus rating of “Buy” and a consensus target price of $108.60.

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.