Marks Group Wealth Management Inc Reduces Stock Position in Amdocs Limited (NASDAQ:DOX)

Marks Group Wealth Management Inc lessened its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,832 shares of the technology company's stock after selling 3,369 shares during the quarter. Marks Group Wealth Management Inc owned approximately 0.08% of Amdocs worth $7,733,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Private Trust Co. NA grew its holdings in shares of Amdocs by 62.9% during the third quarter. Private Trust Co. NA now owns 303 shares of the technology company's stock worth $27,000 after purchasing an additional 117 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Amdocs during the third quarter worth about $28,000. Catalyst Capital Advisors LLC purchased a new position in shares of Amdocs during the third quarter worth about $55,000. GAMMA Investing LLC grew its holdings in shares of Amdocs by 115.1% during the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company's stock worth $70,000 after purchasing an additional 428 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Amdocs during the third quarter worth about $77,000. Hedge funds and other institutional investors own 92.02% of the company's stock.

Amdocs Stock Performance

NASDAQ:DOX traded up $1.07 during mid-day trading on Friday, reaching $88.30. The stock had a trading volume of 663,595 shares, compared to its average volume of 632,452. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. The firm has a market capitalization of $9.97 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 1.41 and a beta of 0.71. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $94.04. The business has a 50 day simple moving average of $85.86 and a 200 day simple moving average of $86.48.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 EPS for the quarter, missing analysts' consensus estimates of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. On average, analysts expect 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. The ex-dividend date is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 2.39%. This is an increase from Amdocs's previous quarterly dividend of $0.48. Amdocs's dividend payout ratio (DPR) is presently 44.55%.

Analyst Ratings Changes

Several equities analysts have issued reports on DOX shares. Barclays dropped their price objective on Amdocs from $113.00 to $111.00 and set an "overweight" rating on the stock in a report on Thursday, November 14th. StockNews.com upgraded shares of Amdocs from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Finally, Oppenheimer increased their target price on shares of Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $101.20.

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.