abrdn plc Sells 162,022 Shares of Amdocs Limited (NASDAQ:DOX)

abrdn plc trimmed its stake in Amdocs Limited (NASDAQ:DOXFree Report) by 26.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 454,293 shares of the technology company’s stock after selling 162,022 shares during the quarter. abrdn plc’s holdings in Amdocs were worth $39,480,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Pzena Investment Management LLC boosted its stake in Amdocs by 33.2% in the 2nd quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock worth $447,287,000 after purchasing an additional 1,412,826 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Amdocs by 36.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company’s stock worth $277,818,000 after buying an additional 851,022 shares during the last quarter. Vanguard Group Inc. raised its holdings in Amdocs by 39.5% in the first quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock worth $183,771,000 after buying an additional 576,168 shares during the last quarter. Brandes Investment Partners LP lifted its stake in shares of Amdocs by 31.1% in the second quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock worth $178,335,000 after buying an additional 536,359 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of Amdocs by 36.2% during the second quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company’s stock valued at $132,253,000 after buying an additional 444,966 shares during the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Stock Down 0.6 %

Shares of Amdocs stock opened at $88.09 on Thursday. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $94.04. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $87.30 and its 200 day moving average is $83.62. The company has a market cap of $10.35 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74.

Amdocs (NASDAQ:DOXGet Free Report) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.02. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the firm earned $1.41 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. Research analysts anticipate that Amdocs Limited will post 5.67 EPS for the current year.

Amdocs Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, September 30th were paid a dividend of $0.479 per share. The ex-dividend date was Monday, September 30th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.18%. Amdocs’s dividend payout ratio is currently 42.92%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus began coverage on shares of Amdocs in a report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price objective for the company. StockNews.com upgraded Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $102.00.

Get Our Latest Stock Analysis on DOX

Amdocs Profile

(Free Report)

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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Institutional Ownership by Quarter for Amdocs (NASDAQ:DOX)

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