Cerity Partners LLC Has $693,000 Stake in Amdocs Limited (NASDAQ:DOX)

Cerity Partners LLC decreased its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 29.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 7,574 shares of the technology company's stock after selling 3,168 shares during the quarter. Cerity Partners LLC's holdings in Amdocs were worth $693,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in DOX. Xponance Inc. lifted its holdings in Amdocs by 15.5% in the fourth quarter. Xponance Inc. now owns 5,039 shares of the technology company's stock valued at $429,000 after buying an additional 675 shares during the period. LPL Financial LLC lifted its holdings in Amdocs by 25.4% in the fourth quarter. LPL Financial LLC now owns 123,015 shares of the technology company's stock valued at $10,473,000 after buying an additional 24,947 shares during the period. Vanguard Group Inc. lifted its holdings in Amdocs by 16.1% in the fourth quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company's stock valued at $261,756,000 after buying an additional 426,035 shares during the period. Norges Bank bought a new stake in Amdocs in the fourth quarter valued at approximately $824,000. Finally, Orion Portfolio Solutions LLC increased its stake in Amdocs by 9.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 50,519 shares of the technology company's stock valued at $4,301,000 after purchasing an additional 4,506 shares in the last quarter. Institutional investors own 92.02% of the company's stock.

Analysts Set New Price Targets

DOX has been the subject of several recent analyst reports. Wall Street Zen raised shares of Amdocs from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Wolfe Research initiated coverage on shares of Amdocs in a research note on Tuesday, July 8th. They issued an "outperform" rating for the company. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Amdocs presently has an average rating of "Buy" and a consensus target price of $105.33.

Amdocs Stock Down 0.6%

Shares of DOX stock traded down $0.56 on Friday, hitting $87.85. 357,851 shares of the stock were exchanged, compared to its average volume of 711,254. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $9.92 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 1.46 and a beta of 0.52. The business has a 50-day moving average of $91.29 and a 200 day moving average of $88.55. Amdocs Limited has a fifty-two week low of $78.61 and a fifty-two week high of $95.41.

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

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders 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 annualized dividend and a yield of 2.40%. Amdocs's payout ratio is currently 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.