Strs Ohio Reduces Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Strs Ohio lowered its position in shares of Amdocs Limited (NASDAQ:DOX) by 0.6% during the fourth quarter, HoldingsChannel reports. The firm owned 127,920 shares of the technology company’s stock after selling 813 shares during the period. Strs Ohio’s holdings in Amdocs were worth $11,242,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in 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 worth $419,256,000 after purchasing an additional 75,733 shares during the last quarter. Invesco Ltd. grew its holdings in Amdocs by 31.0% during the 3rd quarter. Invesco Ltd. now owns 2,629,346 shares of the technology company’s stock worth $222,153,000 after acquiring an additional 621,962 shares in the last quarter. Nordea Investment Management AB increased its position in shares of 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 last quarter. American Century Companies Inc. raised its stake in shares of Amdocs by 6.2% in the 3rd quarter. American Century Companies Inc. now owns 1,980,219 shares of the technology company’s stock valued at $167,309,000 after purchasing an additional 115,744 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Amdocs by 8.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,861,430 shares of the technology company’s stock worth $178,753,000 after purchasing an additional 139,026 shares during the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Trading Up 0.1 %

NASDAQ:DOX opened at $84.93 on Thursday. Amdocs Limited has a 12-month low of $78.38 and a 12-month high of $99.75. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.29 and a quick ratio of 1.29. The business has a 50 day simple moving average of $90.19 and a 200 day simple moving average of $87.25. The firm has a market capitalization of $9.98 billion, a P/E ratio of 18.19, a P/E/G ratio of 1.38 and a beta of 0.69.

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

Amdocs Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from Amdocs’s previous quarterly dividend of $0.44. Amdocs’s payout ratio is 41.11%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Citigroup upped their price objective on Amdocs from $96.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Barclays raised their price objective on Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Finally, StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target 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.