Bank of New York Mellon Corp Has $29.48 Million Stock Position in Amdocs Limited (NASDAQ:DOX)

Bank of New York Mellon Corp trimmed its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 346,223 shares of the technology company's stock after selling 3,384 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.31% of Amdocs worth $29,477,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB raised its position in Amdocs by 8.3% during the 4th quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company's stock worth $141,112,000 after purchasing an additional 127,426 shares during the last quarter. Mirabella Financial Services LLP increased its stake in shares of Amdocs by 204.2% in the third quarter. Mirabella Financial Services LLP now owns 14,302 shares of the technology company's stock valued at $1,250,000 after buying an additional 9,600 shares during the period. Victory Capital Management Inc. raised its position in shares of Amdocs by 1.9% during the third quarter. Victory Capital Management Inc. now owns 478,137 shares of the technology company's stock worth $41,827,000 after acquiring an additional 9,098 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Amdocs by 7.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company's stock worth $154,587,000 after acquiring an additional 125,654 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its holdings in Amdocs by 34.7% in the third quarter. Crossmark Global Holdings Inc. now owns 145,556 shares of the technology company's stock valued at $12,733,000 after acquiring an additional 37,516 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors.

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Amdocs Trading Down 1.7 %

Shares of NASDAQ:DOX traded down $1.54 during mid-day trading on Wednesday, hitting $87.26. The company had a trading volume of 582,033 shares, compared to its average volume of 667,489. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20. Amdocs Limited has a one year low of $74.41 and a one year high of $93.83. The firm has a fifty day moving average price of $86.54 and a 200 day moving average price of $87.03. The company has a market capitalization of $9.85 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 1.47 and a beta of 0.68.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share 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, research analysts forecast that Amdocs Limited will post 6.21 EPS for the current 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 2.42%. This is a positive change from Amdocs's previous quarterly dividend of $0.48. Amdocs's dividend payout ratio is presently 48.72%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Oppenheimer raised their price target on shares of Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. StockNews.com downgraded shares of Amdocs from a "strong-buy" rating to a "buy" rating in a research note 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 research 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 data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.