Ballast Asset Management LP Reduces Holdings in Amdocs Limited (NASDAQ:DOX)

Ballast Asset Management LP reduced its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 40.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 24,404 shares of the technology company's stock after selling 16,790 shares during the period. Ballast Asset Management LP's holdings in Amdocs were worth $2,078,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of DOX. Axxcess Wealth Management LLC increased its position in shares of Amdocs by 5.4% during the fourth quarter. Axxcess Wealth Management LLC now owns 2,431 shares of the technology company's stock worth $207,000 after acquiring an additional 124 shares during the period. Principal Securities Inc. grew its stake in Amdocs by 10.4% in the fourth quarter. Principal Securities Inc. now owns 1,341 shares of the technology company's stock worth $114,000 after purchasing an additional 126 shares in the last quarter. Global Retirement Partners LLC increased its holdings in Amdocs by 45.6% during the 4th quarter. Global Retirement Partners LLC now owns 559 shares of the technology company's stock worth $48,000 after purchasing an additional 175 shares during the period. CIBC Asset Management Inc raised its position in Amdocs by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,621 shares of the technology company's stock valued at $308,000 after purchasing an additional 180 shares in the last quarter. Finally, KFG Wealth Management LLC lifted its holdings in shares of Amdocs by 8.2% in the 4th quarter. KFG Wealth Management LLC now owns 2,496 shares of the technology company's stock worth $213,000 after buying an additional 189 shares during the period. Hedge funds and other institutional investors own 92.02% of the company's stock.

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Amdocs Stock Down 5.2 %

Shares of NASDAQ:DOX traded down $4.63 on Friday, reaching $83.70. The company had a trading volume of 805,986 shares, compared to its average volume of 690,661. The firm has a market capitalization of $9.45 billion, a PE ratio of 19.42, a PEG ratio of 1.47 and a beta of 0.68. 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 52-week low of $74.41 and a 52-week high of $93.34. The firm's 50 day simple moving average is $88.29 and its 200-day simple moving average is $87.45.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its earnings results 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%. As a group, analysts expect that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be issued a $0.527 dividend. This is a positive change from Amdocs's previous quarterly dividend of $0.48. This represents a $2.11 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Monday, March 31st. Amdocs's payout ratio is currently 48.72%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Amdocs from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $101.20.

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.