Allspring Global Investments Holdings LLC Has $221.67 Million Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Allspring Global Investments Holdings LLC reduced its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 49.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,522,127 shares of the technology company's stock after selling 2,440,070 shares during the quarter. Allspring Global Investments Holdings LLC owned 2.15% of Amdocs worth $221,670,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in DOX. Arrowstreet Capital Limited Partnership acquired a new position in shares of Amdocs during the first quarter valued at about $104,410,000. Norges Bank purchased a new position in Amdocs during the fourth quarter worth about $112,930,000. Acadian Asset Management LLC purchased a new position in Amdocs during the third quarter worth about $96,934,000. Invesco Ltd. boosted its holdings in Amdocs by 31.0% during the third quarter. Invesco Ltd. now owns 2,629,346 shares of the technology company's stock worth $222,153,000 after purchasing an additional 621,962 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Amdocs by 76.5% during the fourth quarter. Alliancebernstein L.P. now owns 1,133,405 shares of the technology company's stock worth $103,027,000 after purchasing an additional 491,265 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Stock Performance

Shares of NASDAQ DOX traded down $0.51 during midday trading on Monday, hitting $87.32. The company's stock had a trading volume of 558,445 shares, compared to its average volume of 674,331. The stock has a fifty day moving average price of $91.02 and a 200 day moving average price of $87.22. Amdocs Limited has a one year low of $78.38 and a one year high of $99.75. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $10.26 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 1.43 and a beta of 0.69.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.16. Amdocs had a net margin of 11.30% and a return on equity of 17.79%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the firm posted $1.33 earnings per share. The company's quarterly revenue was up 5.0% compared to the same quarter last year. On average, research analysts forecast that Amdocs Limited will post 5.87 EPS for the current fiscal year.

Amdocs Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, March 29th will be issued a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from Amdocs's previous quarterly dividend of $0.44. Amdocs's dividend payout ratio is 41.11%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on DOX shares. Barclays boosted their price target on shares of Amdocs from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Thursday, February 8th. StockNews.com cut shares of Amdocs from a "strong-buy" rating to a "buy" rating in a report on Friday, March 15th. Finally, Citigroup boosted their price target on shares of Amdocs from $96.00 to $104.00 and gave the stock a "buy" rating in a report on Wednesday, January 17th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $108.60.

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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