Amdocs Limited (NASDAQ:DOX) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 1.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,437,085 shares of the technology company's stock after selling 14,001 shares during the period. Vanguard Group Inc. owned about 1.22% of Amdocs worth $121,419,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Operose Advisors LLC boosted its stake in Amdocs by 148.0% in the 3rd quarter. Operose Advisors LLC now owns 310 shares of the technology company's stock valued at $26,000 after buying an additional 185 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new stake in shares of Amdocs in the 2nd quarter valued at $28,000. Allworth Financial LP grew its holdings in shares of Amdocs by 16,840.0% in the 3rd quarter. Allworth Financial LP now owns 847 shares of the technology company's stock worth $72,000 after purchasing an additional 842 shares during the last quarter. GeoWealth Management LLC acquired a new stake in shares of Amdocs during the 1st quarter worth about $80,000. Finally, Zions Bancorporation N.A. bought a new position in Amdocs during the 1st quarter valued at about $83,000. Institutional investors own 92.02% of the company's stock.

Amdocs Price Performance

Amdocs stock traded down $1.05 during mid-day trading on Thursday, reaching $88.07. 578,601 shares of the company were exchanged, compared to its average volume of 680,246. The firm has a market cap of $10.35 billion, a PE ratio of 18.86, a PEG ratio of 1.45 and a beta of 0.69. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.29 and a quick ratio of 1.29. The company has a fifty day simple moving average of $91.21 and a 200-day simple moving average of $87.19. Amdocs Limited has a 12 month low of $78.38 and a 12 month high of $99.75.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.40 by $0.16. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.24 billion. Amdocs had a net margin of 11.30% and a return on equity of 17.79%. The company's revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.33 earnings per share. As a group, equities research analysts expect that Amdocs Limited will post 5.87 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, March 29th will be given a dividend of $0.479 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from Amdocs's previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a dividend yield of 2.18%. Amdocs's payout ratio is presently 41.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Citigroup lifted their price objective on Amdocs from $96.00 to $104.00 and gave the company a "buy" rating in a research report on Wednesday, January 17th. Barclays increased their price objective on shares of Amdocs from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Thursday, February 8th. Finally, StockNews.com downgraded shares of Amdocs from a "strong-buy" rating to a "buy" rating in a research note on Friday, March 15th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $108.60.

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.