First Trust Advisors LP Sells 89,978 Shares of Amdocs Limited (NASDAQ:DOX)

First Trust Advisors LP decreased its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 866,771 shares of the technology company's stock after selling 89,978 shares during the quarter. First Trust Advisors LP owned approximately 0.77% of Amdocs worth $73,797,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of DOX. Nordea Investment Management AB grew its position in shares of Amdocs by 8.3% during the fourth quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company's stock valued at $141,112,000 after purchasing an additional 127,426 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Amdocs by 7.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company's stock valued at $154,587,000 after buying an additional 125,654 shares in the last quarter. Dudley & Shanley Inc. raised its holdings in shares of Amdocs by 7.6% during the 3rd quarter. Dudley & Shanley Inc. now owns 261,826 shares of the technology company's stock worth $22,905,000 after acquiring an additional 18,600 shares in the last quarter. Range Financial Group LLC bought a new position in shares of Amdocs during the 4th quarter valued at approximately $1,376,000. Finally, Principal Financial Group Inc. boosted its position in shares of Amdocs by 6.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,032,867 shares of the technology company's stock valued at $90,355,000 after acquiring an additional 63,718 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company's stock.

Amdocs Trading Up 1.0 %

NASDAQ:DOX traded up $0.86 during midday trading on Thursday, hitting $85.82. 602,151 shares of the company traded hands, compared to its average volume of 706,219. The firm has a market capitalization of $9.69 billion, a P/E ratio of 19.91, a P/E/G ratio of 1.47 and a beta of 0.59. The firm's fifty day moving average is $87.19 and its 200-day moving average is $87.04. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $93.34. 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 (NASDAQ:DOX - Get Free Report) last announced its 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%. On average, sell-side analysts predict that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.527 per share. 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 dividend on an annualized basis and a dividend yield of 2.46%. Amdocs's dividend payout ratio is currently 48.72%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Amdocs from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.