Meitav Investment House Ltd. Has $2.51 Million Holdings in Amdocs Limited (NASDAQ:DOX)

Meitav Investment House Ltd. reduced its position in Amdocs Limited (NASDAQ:DOX - Free Report) by 90.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,466 shares of the technology company's stock after selling 270,748 shares during the period. Meitav Investment House Ltd.'s holdings in Amdocs were worth $2,506,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on DOX shares. Barclays raised their target price 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 lowered shares of Amdocs from a "strong-buy" rating to a "buy" rating in a research note on Friday, March 15th. Finally, Citigroup raised their price target on shares of Amdocs from $96.00 to $104.00 and gave the company a "buy" rating in a research note on Wednesday, January 17th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $108.60.

Amdocs Price Performance

Amdocs stock traded down $1.63 during mid-day trading on Friday, hitting $85.71. The company's stock had a trading volume of 493,410 shares, compared to its average volume of 667,404. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $10.07 billion, a P/E ratio of 18.39, a P/E/G ratio of 1.42 and a beta of 0.69. Amdocs Limited has a twelve month low of $78.38 and a twelve month high of $99.75. The stock's fifty day moving average price is $90.74 and its two-hundred day moving average price is $87.24.

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

Amdocs Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, March 29th will be paid a $0.479 dividend. This is a positive change from Amdocs's previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.92 dividend on an annualized basis and a yield of 2.24%. Amdocs's dividend payout ratio (DPR) is currently 41.11%.

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.