Massachusetts Financial Services Co. MA Decreases Holdings in Amdocs Limited (NASDAQ:DOX)

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

Several other institutional investors also recently bought and sold shares of the business. Alyeska Investment Group L.P. lifted its holdings in Amdocs by 86.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company's stock worth $143,127,000 after acquiring an additional 781,061 shares during the last quarter. Wellington Management Group LLP increased its stake 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 valued at $228,211,000 after acquiring an additional 543,490 shares during the period. Vanguard Group Inc. grew its position in Amdocs by 16.1% in the fourth quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company's stock worth $261,756,000 after buying an additional 426,035 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Amdocs by 2,489.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 376,383 shares of the technology company's stock worth $32,045,000 after buying an additional 361,845 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Amdocs by 32.8% in the fourth quarter. Russell Investments Group Ltd. now owns 979,861 shares of the technology company's stock worth $83,426,000 after buying an additional 242,093 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wolfe Research started coverage on shares of Amdocs in a research note on Tuesday, July 8th. They issued an "outperform" rating on the stock. Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $105.33.

Amdocs Price Performance

DOX stock opened at $89.31 on Friday. The firm has a 50 day moving average of $91.56 and a 200-day moving average of $88.37. 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 $10.08 billion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. Amdocs Limited has a 12 month low of $78.61 and a 12 month high of $95.41.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its quarterly 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. Amdocs had a net margin of 11.39% and a return on equity of 19.52%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the business earned $1.56 EPS. Amdocs's quarterly revenue was down 9.4% compared to the same quarter last year. As a group, sell-side analysts predict that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, June 30th will be given 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 2.36%. Amdocs's dividend 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.

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