Barclays PLC Sells 78,677 Shares of Amdocs Limited (NASDAQ:DOX)

Barclays PLC lowered its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 27.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 211,699 shares of the technology company's stock after selling 78,677 shares during the period. Barclays PLC owned approximately 0.19% of Amdocs worth $18,024,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Townsquare Capital LLC increased its stake in Amdocs by 7.4% in the fourth quarter. Townsquare Capital LLC now owns 6,056 shares of the technology company's stock valued at $516,000 after acquiring an additional 418 shares during the period. Sterling Capital Management LLC increased its stake in shares of Amdocs by 52.7% in the fourth quarter. Sterling Capital Management LLC now owns 6,670 shares of the technology company's stock valued at $568,000 after buying an additional 2,302 shares in the last quarter. Scotia Capital Inc. increased its position in Amdocs by 22.7% in the 4th quarter. Scotia Capital Inc. now owns 3,942 shares of the technology company's stock valued at $336,000 after acquiring an additional 729 shares in the last quarter. APG Asset Management N.V. bought a new position in Amdocs in the 4th quarter worth approximately $4,876,000. Finally, Renaissance Technologies LLC boosted its holdings in Amdocs by 97.6% in the fourth quarter. Renaissance Technologies LLC now owns 134,400 shares of the technology company's stock valued at $11,443,000 after acquiring an additional 66,400 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company's stock.

Analysts Set New Price Targets

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

Amdocs Stock Up 1.3 %

NASDAQ DOX traded up $1.05 during trading hours on Wednesday, reaching $84.96. 474,250 shares of the company's stock were exchanged, compared to its average volume of 704,512. 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 company has a market capitalization of $9.59 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 1.47 and a beta of 0.59. The company's 50-day moving average is $87.25 and its two-hundred day moving average is $87.05. Amdocs Limited has a one year low of $74.41 and a one year high of $93.34.

Amdocs (NASDAQ:DOX - Get Free Report) last issued 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 return on equity of 18.89% and a net margin of 10.19%. On average, analysts forecast that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be paid a $0.527 dividend. This is a boost from Amdocs's previous quarterly dividend of $0.48. The ex-dividend date is Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 2.48%. Amdocs's payout ratio is presently 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.