Amdocs Limited (NASDAQ:DOX) Position Trimmed by Howe & Rusling Inc.

Howe & Rusling Inc. lowered its stake in Amdocs Limited (NASDAQ:DOX) by 10.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 83,287 shares of the technology company’s stock after selling 9,481 shares during the period. Howe & Rusling Inc. owned approximately 0.07% of Amdocs worth $7,320,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of DOX. DAVENPORT & Co LLC boosted its position in shares of Amdocs by 8.7% in the 3rd quarter. DAVENPORT & Co LLC now owns 2,785 shares of the technology company’s stock valued at $235,000 after purchasing an additional 223 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Amdocs by 4.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 899,576 shares of the technology company’s stock valued at $76,005,000 after purchasing an additional 39,978 shares during the period. Xponance Inc. boosted its position in shares of Amdocs by 8.4% in the 3rd quarter. Xponance Inc. now owns 4,469 shares of the technology company’s stock valued at $378,000 after purchasing an additional 348 shares during the period. Raymond James & Associates boosted its position in Amdocs by 3.2% during the 3rd quarter. Raymond James & Associates now owns 388,941 shares of the technology company’s stock worth $32,862,000 after acquiring an additional 12,148 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Amdocs by 3.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,599 shares of the technology company’s stock worth $473,000 after acquiring an additional 191 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Stock Down 0.6 %

Shares of Amdocs stock traded down $0.47 during trading on Wednesday, hitting $83.52. 721,176 shares of the stock traded hands, compared to its average volume of 647,853. The stock has a market cap of $9.82 billion, a P/E ratio of 17.99, a PEG ratio of 1.38 and a beta of 0.69. 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 Limited has a twelve month low of $78.38 and a twelve month high of $99.75. The company has a fifty day moving average price of $89.38 and a two-hundred day moving average price of $87.43.

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

Amdocs Increases Dividend

The business 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 represents a $1.92 dividend on an annualized basis and a dividend yield of 2.29%. This is an increase from Amdocs’s previous quarterly dividend of $0.44. The ex-dividend date was Wednesday, March 27th. Amdocs’s dividend payout ratio (DPR) is presently 41.11%.

Wall Street Analyst Weigh In

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

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.