Commerce Bank Has $659,000 Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Commerce Bank lowered its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 37.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,743 shares of the technology company's stock after selling 4,646 shares during the period. Commerce Bank's holdings in Amdocs were worth $659,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of DOX. Canada Pension Plan Investment Board lifted its stake in Amdocs by 14.6% in the 4th quarter. Canada Pension Plan Investment Board now owns 25,900 shares of the technology company's stock valued at $2,205,000 after purchasing an additional 3,300 shares during the last quarter. Farringdon Capital Ltd. bought a new position in shares of Amdocs in the 4th quarter valued at $219,000. Wasatch Advisors LP boosted its holdings in shares of Amdocs by 5.4% during the 4th quarter. Wasatch Advisors LP now owns 40,860 shares of the technology company's stock valued at $3,479,000 after acquiring an additional 2,076 shares in the last quarter. NewEdge Advisors LLC grew its position in Amdocs by 189.2% during the 4th quarter. NewEdge Advisors LLC now owns 14,689 shares of the technology company's stock worth $1,251,000 after acquiring an additional 9,610 shares during the last quarter. Finally, United Capital Financial Advisors LLC acquired a new position in Amdocs in the 4th quarter worth about $209,000. 92.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Amdocs Trading Up 1.3 %

Shares of DOX stock opened at $84.96 on Thursday. The stock has a 50-day moving average of $87.19 and a 200-day moving average of $87.04. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. The stock has a market cap of $9.59 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 1.47 and a beta of 0.59. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $93.34.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share (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, equities research analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Increases Dividend

The firm 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 dividend of $0.527 per share. This is an increase from Amdocs's previous quarterly dividend of $0.48. This represents a $2.11 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Monday, March 31st. Amdocs's dividend payout ratio (DPR) 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.

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