New South Capital Management Inc. Sells 9,664 Shares of Amdocs Limited (NASDAQ:DOX)

New South Capital Management Inc. lowered its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 29.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,264 shares of the technology company's stock after selling 9,664 shares during the quarter. New South Capital Management Inc.'s holdings in Amdocs were worth $1,981,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Private Trust Co. NA raised its stake in Amdocs by 62.9% during the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company's stock worth $27,000 after buying an additional 117 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Amdocs in the third quarter worth approximately $28,000. Jones Financial Companies Lllp bought a new position in shares of Amdocs in the fourth quarter valued at approximately $36,000. SBI Securities Co. Ltd. purchased a new position in shares of Amdocs during the fourth quarter valued at approximately $41,000. Finally, Global Retirement Partners LLC boosted its position in shares of Amdocs by 45.6% during the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company's stock valued at $48,000 after buying an additional 175 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on DOX shares. Oppenheimer raised their price objective on Amdocs from $98.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. StockNews.com downgraded shares of Amdocs from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. Finally, Barclays cut 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 research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $101.20.

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Amdocs Stock Performance

Shares of NASDAQ:DOX traded up $1.99 during midday trading on Friday, reaching $90.46. The company had a trading volume of 757,972 shares, compared to its average volume of 658,404. The stock has a market cap of $10.21 billion, a P/E ratio of 20.99, a P/E/G ratio of 1.47 and a beta of 0.68. The company's 50 day moving average price is $86.36 and its 200 day moving average price is $86.96. 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 $94.04.

Amdocs (NASDAQ:DOX - Get Free Report) last released its earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share 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%. As a group, sell-side analysts anticipate that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be given a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Amdocs's previous quarterly dividend of $0.48. Amdocs's dividend payout ratio is currently 48.72%.

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.