Amdocs Limited (NASDAQ:DOX) Position Trimmed by Truist Financial Corp

Truist Financial Corp decreased its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,019 shares of the technology company’s stock after selling 1,287 shares during the period. Truist Financial Corp’s holdings in Amdocs were worth $3,407,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Private Trust Co. NA increased its stake in Amdocs by 62.9% during the third 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 last quarter. Brooklyn Investment Group bought a new stake in Amdocs during the third quarter valued at $28,000. Catalyst Capital Advisors LLC bought a new stake in Amdocs during the third quarter valued at $55,000. Meeder Asset Management Inc. bought a new stake in Amdocs during the third quarter valued at $77,000. Finally, Principal Securities Inc. increased its stake in Amdocs by 10.4% during the fourth quarter. Principal Securities Inc. now owns 1,341 shares of the technology company’s stock valued at $114,000 after purchasing an additional 126 shares during the last quarter. Institutional investors own 92.02% of the company’s stock.

Amdocs Stock Performance

DOX stock opened at $88.31 on Tuesday. The company has a market capitalization of $9.97 billion, a P/E ratio of 20.49, a PEG ratio of 1.47 and a beta of 0.71. The company has a 50-day simple moving average of $86.09 and a 200 day simple moving average of $86.69. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $94.04. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 earnings per share 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%. Sell-side analysts predict that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 2.39%. This is an increase from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s dividend payout ratio is presently 48.72%.

Analyst Ratings Changes

DOX has been the subject of several analyst reports. Barclays reduced 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. StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 19th. Finally, Oppenheimer boosted their price target on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.20.

Amdocs 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.