Allspring Global Investments Holdings LLC Reduces Holdings in Amdocs Limited (NASDAQ:DOX)

Allspring Global Investments Holdings LLC lowered its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,198,051 shares of the technology company's stock after selling 65,540 shares during the quarter. Allspring Global Investments Holdings LLC owned about 2.83% of Amdocs worth $291,055,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc boosted its stake in Amdocs by 382.9% during the first quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock worth $31,000 after acquiring an additional 268 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Amdocs during the first quarter valued at about $31,000. Jones Financial Companies Lllp bought a new position in shares of Amdocs during the 4th quarter worth about $36,000. SBI Securities Co. Ltd. bought a new stake in Amdocs in the 4th quarter valued at about $41,000. Finally, Global Retirement Partners LLC raised its stake 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 period. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Stock Up 1.0%

Shares of NASDAQ:DOX traded up $0.95 during mid-day trading on Tuesday, hitting $92.19. 652,610 shares of the company traded hands, compared to its average volume of 697,602. The stock has a market cap of $10.41 billion, a P/E ratio of 19.41, a P/E/G ratio of 1.50 and a beta of 0.52. The stock has a 50-day moving average price of $90.82 and a two-hundred day moving average price of $88.04. Amdocs Limited has a 12-month low of $77.17 and a 12-month high of $95.41. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.07. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Amdocs had a net margin of 11.39% and a return on equity of 19.52%. The business's revenue was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.56 EPS. On average, equities research analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, June 30th will be issued a $0.527 dividend. This represents a $2.11 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Monday, June 30th. Amdocs's dividend payout ratio is presently 44.42%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Amdocs from a "hold" rating to a "buy" rating in a report on Saturday, June 7th.

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.