Howe & Rusling Inc. Sells 6,656 Shares of Amdocs Limited (NASDAQ:DOX)

Howe & Rusling Inc. lowered its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,887 shares of the technology company's stock after selling 6,656 shares during the period. Howe & Rusling Inc. owned approximately 0.09% of Amdocs worth $8,334,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in DOX. Private Trust Co. NA lifted its position in Amdocs by 62.9% during the third quarter. Private Trust Co. NA now owns 303 shares of the technology company's stock valued at $27,000 after purchasing an additional 117 shares during the period. Brooklyn Investment Group purchased a new position in shares of Amdocs in the third quarter worth approximately $28,000. Jones Financial Companies Lllp bought a new position in Amdocs in the fourth quarter worth approximately $36,000. SBI Securities Co. Ltd. purchased a new stake in shares of Amdocs in the 4th quarter worth $41,000. Finally, Global Retirement Partners LLC raised its holdings in Amdocs by 45.6% in the 4th quarter. Global Retirement Partners LLC now owns 559 shares of the technology company's stock worth $48,000 after purchasing an additional 175 shares during the period. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

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 equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.20.

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Amdocs Price Performance

Shares of Amdocs stock traded up $0.26 during trading hours on Monday, hitting $90.68. The company's stock had a trading volume of 178,619 shares, compared to its average volume of 683,581. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $93.34. The business has a 50 day moving average price of $87.89 and a two-hundred day moving average price of $87.36. The company has a market cap of $10.24 billion, a PE ratio of 21.02, a PEG ratio of 1.47 and a beta of 0.68.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings data 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 net margin of 10.19% and a return on equity of 18.89%. Analysts expect that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be given a dividend of $0.527 per share. This is a positive change 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 2.32%. 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.