abrdn plc Cuts Stake in Amdocs Limited (NASDAQ:DOX)

abrdn plc lessened its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 5.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 427,960 shares of the technology company's stock after selling 26,333 shares during the period. abrdn plc owned 0.38% of Amdocs worth $36,437,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its holdings in Amdocs by 36.6% in the 3rd 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 period. Pzena Investment Management LLC lifted its position in shares of Amdocs by 12.3% in the third quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company's stock valued at $556,700,000 after acquiring an additional 696,136 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Amdocs by 123.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 759,136 shares of the technology company's stock worth $66,409,000 after acquiring an additional 419,045 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Amdocs by 1,207.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 271,701 shares of the technology company's stock worth $23,768,000 after purchasing an additional 250,918 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Amdocs by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,633,733 shares of the technology company's stock valued at $143,498,000 after purchasing an additional 158,843 shares during the period. Hedge funds and other institutional investors own 92.02% of the company's stock.

Amdocs Price Performance

Shares of DOX stock traded up $0.01 on Friday, reaching $85.97. The company's stock had a trading volume of 671,265 shares, compared to its average volume of 632,452. The company has a market capitalization of $9.71 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 1.41 and a beta of 0.71. The stock's fifty day simple moving average is $85.94 and its 200-day simple moving average is $86.43. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $94.04.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. Analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Investors of record on Monday, March 31st will be given a $0.527 dividend. This is a positive change from Amdocs's previous quarterly dividend of $0.48. This represents a $2.11 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Monday, March 31st. Amdocs's dividend payout ratio is 48.72%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Oppenheimer upped their price target on Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. StockNews.com upgraded shares of Amdocs from a "buy" rating to a "strong-buy" rating in a research report on Wednesday. Finally, Barclays reduced their price target on shares of Amdocs from $113.00 to $111.00 and set an "overweight" rating on the stock in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Amdocs presently has a consensus rating of "Buy" and an average target price of $101.20.

Amdocs Company 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.