Man Group plc Lowers Position in Amdocs Limited (NASDAQ:DOX)

Man Group plc trimmed its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 7.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,253 shares of the technology company's stock after selling 2,842 shares during the quarter. Man Group plc's holdings in Amdocs were worth $3,001,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Axxcess Wealth Management LLC grew its holdings in Amdocs by 5.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 2,431 shares of the technology company's stock valued at $207,000 after purchasing an additional 124 shares during the period. Principal Securities Inc. grew its stake in Amdocs by 10.4% during the fourth quarter. Principal Securities Inc. now owns 1,341 shares of the technology company's stock worth $114,000 after buying an additional 126 shares during the period. Global Retirement Partners LLC grew its stake in Amdocs by 45.6% during the fourth 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. CIBC Asset Management Inc grew its stake in Amdocs by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,621 shares of the technology company's stock worth $308,000 after buying an additional 180 shares during the period. Finally, KFG Wealth Management LLC grew its stake in Amdocs by 8.2% during the fourth quarter. KFG Wealth Management LLC now owns 2,496 shares of the technology company's stock worth $213,000 after buying an additional 189 shares during the period. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Amdocs from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th.

Amdocs Price Performance

Shares of DOX stock opened at $91.62 on Friday. The company has a market capitalization of $10.34 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 1.47 and a beta of 0.51. The firm has a fifty day simple moving average of $87.83 and a 200-day simple moving average of $87.19. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $94.61.

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

Amdocs Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 2.30%. Amdocs's dividend payout ratio (DPR) is presently 44.21%.

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.

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