IFP Advisors Inc Trims Holdings in Amdocs Limited (NASDAQ:DOX)

IFP Advisors Inc decreased its holdings in Amdocs Limited (NASDAQ:DOX) by 35.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,066 shares of the technology company’s stock after selling 1,151 shares during the quarter. IFP Advisors Inc’s holdings in Amdocs were worth $181,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Redmond Asset Management LLC purchased a new stake in Amdocs in the 4th quarter valued at $887,000. Dividend Assets Capital LLC raised its position in Amdocs by 1.0% in the 4th quarter. Dividend Assets Capital LLC now owns 70,725 shares of the technology company’s stock valued at $6,022,000 after purchasing an additional 721 shares during the last quarter. Paradigm Asset Management Co. LLC purchased a new stake in Amdocs in the 4th quarter valued at $1,141,000. Handelsbanken Fonder AB raised its position in Amdocs by 6.2% during the 4th quarter. Handelsbanken Fonder AB now owns 50,115 shares of the technology company’s stock worth $4,267,000 after buying an additional 2,910 shares during the last quarter. Finally, Global Retirement Partners LLC raised its position in Amdocs by 45.6% during the 4th quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock worth $48,000 after buying an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on DOX shares. Barclays cut their price objective on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Oppenheimer upped their price objective on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.20.

Amdocs Stock Performance

NASDAQ:DOX opened at $86.82 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $86.22 and a two-hundred day moving average price of $86.86. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $94.04. The company has a market capitalization of $9.80 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 1.47 and a beta of 0.71.

Amdocs (NASDAQ:DOX) last posted its earnings results 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 net margin of 10.19% and a return on equity of 18.89%. As a group, research analysts expect that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.527 per share. The ex-dividend date is Monday, March 31st. This is an increase from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.43%. Amdocs’s payout ratio is 48.72%.

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.