LSV Asset Management Sells 19,549 Shares of Amdocs Limited (NASDAQ:DOX)

LSV Asset Management lowered its position in Amdocs Limited (NASDAQ:DOX) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,079,933 shares of the technology company’s stock after selling 19,549 shares during the period. LSV Asset Management’s holdings in Amdocs were worth $270,695,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in DOX. Allspring Global Investments Holdings LLC lifted its stake in Amdocs by 1.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,962,197 shares of the technology company’s stock valued at $419,256,000 after buying an additional 75,733 shares in the last quarter. Invesco Ltd. lifted its position in Amdocs by 31.0% in the 3rd quarter. Invesco Ltd. now owns 2,629,346 shares of the technology company’s stock valued at $222,153,000 after acquiring an additional 621,962 shares in the last quarter. Nordea Investment Management AB boosted its stake in Amdocs by 1.9% in the 3rd quarter. Nordea Investment Management AB now owns 2,109,185 shares of the technology company’s stock worth $180,905,000 after purchasing an additional 38,452 shares during the period. American Century Companies Inc. increased its holdings in Amdocs by 6.2% during the 3rd quarter. American Century Companies Inc. now owns 1,980,219 shares of the technology company’s stock worth $167,309,000 after purchasing an additional 115,744 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Amdocs by 5.7% in the 3rd quarter. Wellington Management Group LLP now owns 1,289,317 shares of the technology company’s stock valued at $108,934,000 after purchasing an additional 69,825 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DOX. Barclays upped their price objective on Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. Finally, Citigroup raised 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, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $108.60.

Amdocs Stock Up 0.3 %

Shares of NASDAQ:DOX traded up $0.26 during midday trading on Friday, reaching $83.90. The company had a trading volume of 660,338 shares, compared to its average volume of 592,389. Amdocs Limited has a 1-year low of $78.38 and a 1-year high of $99.75. The stock has a market cap of $9.86 billion, a PE ratio of 17.97, a P/E/G ratio of 1.36 and a beta of 0.70. 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 business’s 50 day moving average price is $88.95 and its 200 day moving average price is $87.43.

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

Amdocs Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, March 29th were issued a dividend of $0.479 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Amdocs’s previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.28%. Amdocs’s payout ratio is presently 41.11%.

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.