Amdocs Limited (NASDAQ:DOX) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 22.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,347 shares of the technology company's stock after selling 15,926 shares during the quarter. Los Angeles Capital Management LLC's holdings in Amdocs were worth $4,864,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in shares of Amdocs by 1.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,962,197 shares of the technology company's stock valued at $419,256,000 after purchasing an additional 75,733 shares during the last quarter. 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 buying an additional 621,962 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Amdocs by 1.9% during the third quarter. Nordea Investment Management AB now owns 2,109,185 shares of the technology company's stock worth $180,905,000 after buying an additional 38,452 shares in the last quarter. American Century Companies Inc. boosted its holdings in Amdocs by 6.2% during the third quarter. American Century Companies Inc. now owns 1,980,219 shares of the technology company's stock worth $167,309,000 after buying an additional 115,744 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Amdocs by 5.7% during the third quarter. Wellington Management Group LLP now owns 1,289,317 shares of the technology company's stock worth $108,934,000 after acquiring an additional 69,825 shares during the period. Hedge funds and other institutional investors own 92.02% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DOX. Barclays upped their price objective on shares of Amdocs from $105.00 to $115.00 and gave the stock an "overweight" rating in a research report on Thursday, February 8th. StockNews.com cut shares of Amdocs from a "strong-buy" rating to a "buy" rating in a research report on Friday, March 15th. Finally, Citigroup raised their price objective on shares of Amdocs from $96.00 to $104.00 and gave the stock a "buy" rating in a research 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 Trading Up 1.3 %

DOX stock traded up $1.05 during mid-day trading on Monday, hitting $84.95. 632,725 shares of the company were exchanged, compared to its average volume of 658,930. 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 firm has a market capitalization of $9.99 billion, a P/E ratio of 17.97, a PEG ratio of 1.36 and a beta of 0.70. The business has a fifty day simple moving average of $88.95 and a 200-day simple moving average of $87.47. 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 posted 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. Amdocs had a net margin of 11.30% and a return on equity of 17.79%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the firm posted $1.33 earnings per share. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities research analysts predict that Amdocs Limited will post 5.87 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, March 29th were issued a $0.479 dividend. This is a boost from Amdocs's previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.92 annualized dividend and a yield of 2.26%. Amdocs's dividend payout ratio (DPR) is 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.