Teachers Retirement System of The State of Kentucky Sells 38,100 Shares of Amdocs Limited (NASDAQ:DOX)

Teachers Retirement System of The State of Kentucky reduced its position in Amdocs Limited (NASDAQ:DOX - Free Report) by 17.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 179,750 shares of the technology company's stock after selling 38,100 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.15% of Amdocs worth $15,798,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of DOX. Charles Schwab Investment Management Inc. boosted its stake in shares of Amdocs by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 166,245 shares of the technology company's stock valued at $14,046,000 after purchasing an additional 1,912 shares during the last quarter. Pathstone Family Office LLC boosted its stake in Amdocs by 8.6% during the third quarter. Pathstone Family Office LLC now owns 7,640 shares of the technology company's stock worth $648,000 after acquiring an additional 606 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Amdocs by 148.1% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 19,803 shares of the technology company's stock worth $1,673,000 after acquiring an additional 11,821 shares in the last quarter. UBS Group AG boosted its stake in Amdocs by 29.5% during the third quarter. UBS Group AG now owns 249,054 shares of the technology company's stock worth $21,043,000 after acquiring an additional 56,731 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Amdocs by 9.4% during the third quarter. Rhumbline Advisers now owns 286,828 shares of the technology company's stock worth $24,234,000 after acquiring an additional 24,746 shares in the last quarter. 92.02% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DOX. Citigroup cut their target price on shares of Amdocs from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, May 9th. StockNews.com lowered shares of Amdocs from a "strong-buy" rating to a "buy" rating in a research note on Friday, March 15th. Finally, Robert W. Baird cut their target price on shares of Amdocs from $97.00 to $90.00 and set a "neutral" rating on the stock in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $104.83.

Amdocs Stock Down 1.2 %

DOX traded down $0.91 during trading on Friday, hitting $74.90. 944,653 shares of the company's stock were exchanged, compared to its average volume of 717,912. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.21. The business's 50 day moving average is $82.24 and its two-hundred day moving average is $87.16. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $99.75. The stock has a market cap of $8.80 billion, a P/E ratio of 16.83, a PEG ratio of 1.34 and a beta of 0.74.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly earnings data on Wednesday, May 8th. The technology company reported $1.38 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.05). The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.25 billion. Amdocs had a return on equity of 17.85% and a net margin of 10.62%. As a group, equities analysts expect that Amdocs Limited will post 5.72 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be issued a $0.479 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.92 annualized dividend and a dividend yield of 2.56%. Amdocs's dividend payout ratio is currently 42.92%.

Amdocs 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.