Massachusetts Financial Services Co. MA Sells 3,465 Shares of Amdocs Limited (NASDAQ:DOX)

Massachusetts Financial Services Co. MA trimmed its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 468,603 shares of the technology company's stock after selling 3,465 shares during the period. Massachusetts Financial Services Co. MA owned 0.42% of Amdocs worth $39,897,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC raised its stake in Amdocs by 38.9% in the 4th quarter. Headlands Technologies LLC now owns 17,584 shares of the technology company's stock worth $1,497,000 after purchasing an additional 4,929 shares in the last quarter. Geode Capital Management LLC lifted its position in Amdocs by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,672,193 shares of the technology company's stock worth $143,262,000 after purchasing an additional 38,460 shares during the period. Franklin Resources Inc. grew its stake in Amdocs by 66.9% during the fourth quarter. Franklin Resources Inc. now owns 254,011 shares of the technology company's stock worth $21,626,000 after buying an additional 101,781 shares in the last quarter. Summit Financial LLC acquired a new position in shares of Amdocs in the 4th quarter valued at approximately $333,000. Finally, Wellington Management Group LLP boosted its position in shares of Amdocs by 25.4% during the 4th quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company's stock worth $228,211,000 after acquiring an additional 543,490 shares in the last quarter. 92.02% of the stock is currently owned by institutional investors.

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Amdocs Price Performance

NASDAQ:DOX traded down $2.99 on Thursday, hitting $82.33. The company had a trading volume of 290,697 shares, compared to its average volume of 696,839. Amdocs Limited has a 52 week low of $74.41 and a 52 week 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. The stock has a market capitalization of $9.29 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 1.47 and a beta of 0.59. The firm has a 50 day moving average of $87.85 and a two-hundred day moving average of $87.31.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly earnings data 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, research analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be given a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Monday, March 31st. This is a positive change from Amdocs's previous quarterly dividend of $0.48. Amdocs's payout ratio is 48.72%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Amdocs from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average 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.