Martingale Asset Management L P Sells 7,553 Shares of Amdocs Limited (NASDAQ:DOX)

Martingale Asset Management L P decreased its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 270,260 shares of the technology company's stock after selling 7,553 shares during the quarter. Martingale Asset Management L P owned 0.24% of Amdocs worth $23,010,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in DOX. Nordea Investment Management AB lifted its position in 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 during the period. Pacer Advisors Inc. grew its holdings 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. Dudley & Shanley Inc. lifted its holdings in Amdocs by 7.6% in the third quarter. Dudley & Shanley Inc. now owns 261,826 shares of the technology company's stock valued at $22,905,000 after acquiring an additional 18,600 shares during the period. Range Financial Group LLC purchased a new stake in Amdocs during the fourth quarter valued at approximately $1,376,000. Finally, Principal Financial Group Inc. boosted its stake 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 worth $90,355,000 after acquiring an additional 63,718 shares during the last quarter. Institutional investors own 92.02% of the company's stock.

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Wall Street Analysts Forecast Growth

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

Amdocs Price Performance

DOX stock traded up $0.24 during midday trading on Monday, hitting $83.42. The company's stock had a trading volume of 132,597 shares, compared to its average volume of 699,689. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 1.47 and a beta of 0.59. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. Amdocs Limited has a 12 month low of $74.41 and a 12 month high of $93.34. The company has a 50 day moving average of $87.67 and a two-hundred day moving average of $87.26.

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

Amdocs Increases Dividend

The company also recently announced 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 an increase from Amdocs's previous quarterly dividend of $0.48. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Monday, March 31st. Amdocs's dividend payout ratio is currently 48.72%.

About Amdocs

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.