Twin Capital Management Inc. Lowers Stock Position in Amdocs Limited (NASDAQ:DOX)

Twin Capital Management Inc. lessened its stake in shares of Amdocs Limited (NASDAQ:DOX) by 1.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,716 shares of the technology company’s stock after selling 227 shares during the quarter. Twin Capital Management Inc.’s holdings in Amdocs were worth $1,557,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in DOX. JPMorgan Chase & Co. purchased a new position in shares of Amdocs in the first quarter valued at approximately $7,002,000. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Amdocs by 6.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 11,833 shares of the technology company’s stock valued at $973,000 after purchasing an additional 665 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Amdocs by 40.5% in the first quarter. PNC Financial Services Group Inc. now owns 13,332 shares of the technology company’s stock valued at $1,097,000 after purchasing an additional 3,840 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of Amdocs by 3.2% in the first quarter. Great West Life Assurance Co. Can now owns 46,252 shares of the technology company’s stock valued at $4,041,000 after purchasing an additional 1,446 shares during the period. Finally, Yousif Capital Management LLC boosted its stake in shares of Amdocs by 6.4% in the first quarter. Yousif Capital Management LLC now owns 6,770 shares of the technology company’s stock valued at $557,000 after purchasing an additional 405 shares during the period. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Amdocs Stock Up 0.2 %

Shares of Amdocs stock opened at $85.11 on Friday. Amdocs Limited has a 52-week low of $78.38 and a 52-week high of $99.75. The company has a 50 day moving average of $90.10 and a 200 day moving average of $87.23. 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 company has a market capitalization of $10.00 billion, a P/E ratio of 18.22, a P/E/G ratio of 1.38 and a beta of 0.69.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.56 earnings per share 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 company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter last year, the company earned $1.33 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, research analysts forecast that Amdocs Limited will post 5.87 EPS for the current fiscal year.

Amdocs Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.479 per share. 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 2.25%. This is a boost from Amdocs’s previous quarterly dividend of $0.44. Amdocs’s dividend payout ratio (DPR) is presently 41.11%.

Analyst Upgrades and Downgrades

DOX has been the subject of several recent research reports. StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 15th. Barclays lifted their price target on shares of Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Finally, Citigroup lifted their price target on shares of Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus 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.