Treasurer of the State of North Carolina Sells 21,222 Shares of Amdocs Limited (NASDAQ:DOX)

Treasurer of the State of North Carolina cut its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 11.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 167,945 shares of the technology company's stock after selling 21,222 shares during the period. Treasurer of the State of North Carolina owned about 0.15% of Amdocs worth $14,299,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of DOX. HighTower Advisors LLC increased its position in Amdocs by 2.1% in the 3rd quarter. HighTower Advisors LLC now owns 12,813 shares of the technology company's stock valued at $1,122,000 after acquiring an additional 265 shares during the period. National Bank of Canada FI lifted its holdings in Amdocs by 108.6% in the third quarter. National Bank of Canada FI now owns 46,575 shares of the technology company's stock worth $4,074,000 after purchasing an additional 24,247 shares during the period. Barclays PLC grew its position in Amdocs by 6.3% in the 3rd quarter. Barclays PLC now owns 290,376 shares of the technology company's stock valued at $25,402,000 after buying an additional 17,097 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Amdocs by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,633,733 shares of the technology company's stock worth $143,498,000 after acquiring an additional 158,843 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Amdocs in the third quarter valued at approximately $130,000. Institutional investors own 92.02% of the company's stock.

Analysts Set New Price Targets

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

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Amdocs Price Performance

Shares of NASDAQ DOX traded up $0.45 during trading on Tuesday, hitting $84.55. The company had a trading volume of 573,619 shares, compared to its average volume of 701,140. The company has a market cap of $9.54 billion, a P/E ratio of 19.62, a PEG ratio of 1.47 and a beta of 0.59. 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 business's 50-day moving average is $87.59 and its 200 day moving average is $87.23. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $93.34.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly 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%. Equities research analysts predict that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.527 per share. This is a boost from Amdocs's previous quarterly dividend of $0.48. This represents a $2.11 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Monday, March 31st. Amdocs's payout ratio is currently 48.72%.

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.