Los Angeles Capital Management LLC Decreases Position in Amdocs Limited (NASDAQ:DOX)

Los Angeles Capital Management LLC trimmed its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 22.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 55,347 shares of the technology company’s stock after selling 15,926 shares during the period. Los Angeles Capital Management LLC’s holdings in Amdocs were worth $4,864,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in shares of Amdocs during the third quarter valued at $96,934,000. Invesco Ltd. grew its stake in Amdocs by 31.0% during the 3rd quarter. Invesco Ltd. now owns 2,629,346 shares of the technology company’s stock valued at $222,153,000 after purchasing an additional 621,962 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Amdocs by 333.7% in the third quarter. Qube Research & Technologies Ltd now owns 449,788 shares of the technology company’s stock valued at $38,003,000 after purchasing an additional 346,071 shares during the period. Meitav Investment House Ltd. raised its stake in shares of Amdocs by 2,132.9% in the third quarter. Meitav Investment House Ltd. now owns 299,214 shares of the technology company’s stock worth $25,609,000 after purchasing an additional 285,814 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Amdocs by 39.2% in the third quarter. The Manufacturers Life Insurance Company now owns 796,767 shares of the technology company’s stock valued at $67,319,000 after buying an additional 224,518 shares during the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on DOX. Barclays raised their price target on shares of 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 shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. Finally, Citigroup lifted 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. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $108.60.

Amdocs Stock Up 0.3 %

DOX opened at $83.90 on Monday. The company has a fifty day moving average of $88.95 and a two-hundred day moving average of $87.47. The stock has a market capitalization of $9.86 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 1.36 and a beta of 0.70. Amdocs Limited has a fifty-two week low of $78.38 and a fifty-two week high of $99.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.29 and a current ratio of 1.29.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.16. The firm had revenue of $1.25 billion during 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%. Amdocs’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.33 EPS. On average, research analysts expect that Amdocs Limited will post 5.87 earnings per share for the current year.

Amdocs Increases Dividend

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

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.