Amdocs Limited (NASDAQ:DOX) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 464,891 shares of the technology company's stock after selling 3,712 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.41% of Amdocs worth $42,538,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in DOX. Charles Schwab Investment Management Inc. increased its position in Amdocs by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 213,310 shares of the technology company's stock worth $18,161,000 after purchasing an additional 6,173 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Amdocs during the 4th quarter worth about $1,906,000. Amundi increased its position in Amdocs by 46.8% during the 4th quarter. Amundi now owns 7,962 shares of the technology company's stock worth $670,000 after purchasing an additional 2,540 shares in the last quarter. HighTower Advisors LLC increased its position in Amdocs by 20.0% during the 4th quarter. HighTower Advisors LLC now owns 15,374 shares of the technology company's stock worth $1,309,000 after purchasing an additional 2,561 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in Amdocs by 127.9% during the 4th quarter. Farther Finance Advisors LLC now owns 841 shares of the technology company's stock worth $72,000 after purchasing an additional 472 shares in the last quarter. Hedge funds and other institutional investors own 92.02% of the company's stock.

Amdocs Stock Down 1.6%

Shares of NASDAQ:DOX traded down $1.39 during mid-day trading on Monday, hitting $88.03. 796,650 shares of the company traded hands, compared to its average volume of 665,062. The firm has a market cap of $9.94 billion, a P/E ratio of 18.53, a PEG ratio of 1.48 and a beta of 0.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.16 and a current ratio of 1.16. Amdocs Limited has a 52-week low of $78.61 and a 52-week high of $95.41. The firm's 50 day simple moving average is $91.45 and its 200 day simple moving average is $88.48.

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 (EPS) 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 for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business earned $1.56 EPS. Amdocs's revenue for the quarter was down 9.4% compared to the same quarter last year. On average, equities analysts anticipate that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Announces Dividend

The company also recently declared 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. 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 2.39%. Amdocs's dividend payout ratio (DPR) is 44.42%.

Wall Street Analysts Forecast Growth

DOX has been the subject of a number of recent research reports. Wall Street Zen upgraded Amdocs from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Wolfe Research initiated coverage on Amdocs in a research note on Tuesday, July 8th. They issued an "outperform" rating on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Amdocs currently has a consensus rating of "Buy" and an average target price of $105.33.

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.