Amdocs Limited (NASDAQ:DOX) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 980,538 shares of the technology company's stock after selling 81,123 shares during the period. Bank of America Corp DE owned 0.87% of Amdocs worth $83,483,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Barclays PLC increased its position in Amdocs by 6.3% during the 3rd quarter. Barclays PLC now owns 290,376 shares of the technology company's stock worth $25,402,000 after purchasing an additional 17,097 shares during the period. Franklin Resources Inc. boosted its stake in shares of Amdocs by 71.6% during the 3rd quarter. Franklin Resources Inc. now owns 152,230 shares of the technology company's stock worth $13,580,000 after acquiring an additional 63,527 shares in the last quarter. Steph & Co. boosted its stake in shares of Amdocs by 14.4% during the 4th quarter. Steph & Co. now owns 6,649 shares of the technology company's stock worth $566,000 after acquiring an additional 837 shares in the last quarter. Wedge Capital Management L L P NC lifted its stake in Amdocs by 15.1% in the 4th quarter. Wedge Capital Management L L P NC now owns 818,021 shares of the technology company's stock valued at $69,646,000 after buying an additional 107,349 shares in the last quarter. Finally, HB Wealth Management LLC lifted its stake in Amdocs by 7.4% in the 4th quarter. HB Wealth Management LLC now owns 3,839 shares of the technology company's stock valued at $327,000 after buying an additional 264 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company's stock.

Amdocs Trading Up 0.8%

Shares of DOX traded up $0.70 during trading hours on Friday, hitting $91.38. The stock had a trading volume of 437,257 shares, compared to its average volume of 685,997. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. The firm has a market cap of $10.32 billion, a P/E ratio of 21.20, a P/E/G ratio of 1.47 and a beta of 0.51. The company's fifty day simple moving average is $87.54 and its 200 day simple moving average is $87.09. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $94.61.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.07. Amdocs had a return on equity of 18.89% and a net margin of 10.19%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the firm earned $1.56 EPS. The firm's quarterly revenue was down 9.4% compared to the same quarter last year. Equities research analysts forecast that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, June 30th will be issued a $0.527 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.11 annualized dividend and a yield of 2.31%. Amdocs's dividend payout ratio is currently 44.21%.

Analyst Ratings Changes

Separately, StockNews.com lowered Amdocs from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th.

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.