Tidal Investments LLC Has $8.43 Million Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Tidal Investments LLC reduced its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 12.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 99,039 shares of the technology company’s stock after selling 14,632 shares during the quarter. Tidal Investments LLC’s holdings in Amdocs were worth $8,432,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of DOX. Alyeska Investment Group L.P. lifted its position in shares of Amdocs by 86.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company’s stock worth $143,127,000 after buying an additional 781,061 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Amdocs by 25.4% during the 4th quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company’s stock worth $228,211,000 after buying an additional 543,490 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Amdocs during the 4th quarter worth $44,494,000. Vanguard Group Inc. lifted its position in shares of Amdocs by 16.1% during the 4th quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company’s stock worth $261,756,000 after buying an additional 426,035 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Amdocs by 2,489.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 376,383 shares of the technology company’s stock worth $32,045,000 after buying an additional 361,845 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th.

Amdocs Price Performance

Shares of DOX opened at $91.22 on Tuesday. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $94.61. The business has a 50-day simple moving average of $87.62 and a two-hundred day simple moving average of $87.11. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. The stock has a market cap of $10.30 billion, a PE ratio of 21.16, a PEG ratio of 1.47 and a beta of 0.51.

Amdocs (NASDAQ:DOX) last issued its earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.07. Amdocs had a return on equity of 18.89% and a net margin of 10.19%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the firm earned $1.56 EPS. The business’s revenue for the quarter was down 9.4% compared to the same quarter last year. Analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, June 30th will be issued a $0.527 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a yield of 2.31%. Amdocs’s payout ratio is presently 44.21%.

About Amdocs

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.