First Trust Advisors LP Reduces Position in Amdocs Limited (NASDAQ:DOX)

First Trust Advisors LP reduced its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 9.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 866,771 shares of the technology company's stock after selling 89,978 shares during the quarter. First Trust Advisors LP owned approximately 0.77% of Amdocs worth $73,797,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of DOX. Wellington Management Group LLP lifted its stake in shares of Amdocs by 25.4% in the 4th quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company's stock valued at $228,211,000 after purchasing an additional 543,490 shares during the period. Raymond James Financial Inc. bought a new stake in Amdocs during the 4th quarter worth approximately $44,494,000. Vanguard Group Inc. increased its holdings in Amdocs by 16.1% during the 4th quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company's stock worth $261,756,000 after purchasing an additional 426,035 shares in the last quarter. Pzena Investment Management LLC grew its holdings in shares of Amdocs by 4.3% in the fourth quarter. Pzena Investment Management LLC now owns 6,634,549 shares of the technology company's stock valued at $564,866,000 after acquiring an additional 270,810 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of 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 acquiring an additional 242,093 shares in the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Amdocs from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Amdocs currently has an average rating of "Moderate Buy" and an average target price of $101.20.

Amdocs Stock Performance

Shares of NASDAQ:DOX traded up $0.19 during trading on Friday, hitting $86.01. 478,566 shares of the company were exchanged, compared to its average volume of 706,468. The company has a market cap of $9.71 billion, a PE ratio of 19.96, a P/E/G ratio of 1.47 and a beta of 0.59. The stock has a 50 day moving average of $87.07 and a 200 day moving average of $87.01. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $93.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its earnings results on Tuesday, February 4th. The technology company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a return on equity of 18.89% and a net margin of 10.19%. As a group, equities research analysts predict that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 31st were issued a dividend of $0.527 per share. This is a positive change from Amdocs's previous quarterly dividend of $0.48. The ex-dividend date was Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 2.45%. Amdocs's payout ratio is presently 48.72%.

Amdocs Company 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.