Nisa Investment Advisors LLC Sells 4,305 Shares of Amdocs Limited (NASDAQ:DOX)

Nisa Investment Advisors LLC trimmed its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 17.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,880 shares of the technology company's stock after selling 4,305 shares during the period. Nisa Investment Advisors LLC's holdings in Amdocs were worth $1,829,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Amdocs by 16.1% in the 4th quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company's stock valued at $261,756,000 after purchasing an additional 426,035 shares during the period. Wellington Management Group LLP raised its holdings in shares of Amdocs by 25.4% during the fourth quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company's stock worth $228,211,000 after acquiring an additional 543,490 shares in the last quarter. Alyeska Investment Group L.P. boosted its position in Amdocs by 86.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company's stock valued at $143,127,000 after purchasing an additional 781,061 shares during the last quarter. Geode Capital Management LLC grew its stake in Amdocs by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 1,672,193 shares of the technology company's stock valued at $143,262,000 after purchasing an additional 38,460 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Amdocs by 32.8% in the fourth quarter. Russell Investments Group Ltd. now owns 979,861 shares of the technology company's stock valued at $83,426,000 after purchasing an additional 242,093 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DOX. Wolfe Research began coverage on Amdocs in a report on Tuesday, July 8th. They set an "outperform" rating for the company. Wall Street Zen raised shares of Amdocs from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Amdocs has an average rating of "Buy" and a consensus price target of $105.33.

Amdocs Stock Performance

Shares of DOX stock traded up $0.14 during trading on Thursday, reaching $89.31. The company had a trading volume of 453,256 shares, compared to its average volume of 664,323. The firm's 50 day simple moving average is $91.56 and its two-hundred day simple moving average is $88.37. Amdocs Limited has a one year low of $78.61 and a one year high of $95.41. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $10.08 billion, a PE ratio of 18.80, a PEG ratio of 1.47 and a beta of 0.52.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.07. The company had revenue of $1.13 billion for 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 company's quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.56 earnings per share. Sell-side analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, June 30th will be paid a $0.527 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.36%. Amdocs's payout ratio is presently 44.42%.

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.