abrdn plc Trims Stock Holdings in Amdocs Limited (NASDAQ:DOX)

abrdn plc cut its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 26.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 454,293 shares of the technology company's stock after selling 162,022 shares during the period. abrdn plc owned about 0.39% of Amdocs worth $39,480,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its stake in shares of Amdocs by 7.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 166,927 shares of the technology company's stock worth $16,030,000 after purchasing an additional 12,178 shares during the period. Boston Trust Walden Corp increased its holdings in Amdocs by 17.0% in the 2nd quarter. Boston Trust Walden Corp now owns 618,387 shares of the technology company's stock worth $48,803,000 after acquiring an additional 89,726 shares during the last quarter. SG Americas Securities LLC increased its holdings in Amdocs by 402.4% in the 2nd quarter. SG Americas Securities LLC now owns 154,968 shares of the technology company's stock worth $12,230,000 after acquiring an additional 124,122 shares during the last quarter. Sargent Investment Group LLC purchased a new stake in Amdocs in the 2nd quarter worth about $289,000. Finally, Acadian Asset Management LLC increased its holdings in Amdocs by 22.7% in the 1st quarter. Acadian Asset Management LLC now owns 1,395,894 shares of the technology company's stock worth $126,119,000 after acquiring an additional 258,343 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DOX has been the subject of several recent research reports. StockNews.com raised Amdocs from a "buy" rating to a "strong-buy" rating in a report on Friday, October 25th. Stifel Nicolaus started coverage on Amdocs in a report on Wednesday, October 2nd. They set a "buy" rating and a $100.00 target price for the company. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Amdocs presently has a consensus rating of "Buy" and an average target price of $102.00.

Amdocs Price Performance

NASDAQ:DOX traded down $0.34 during mid-day trading on Thursday, reaching $87.75. The stock had a trading volume of 617,602 shares, compared to its average volume of 672,035. The firm has a 50 day moving average price of $87.36 and a two-hundred day moving average price of $83.65. The stock has a market capitalization of $10.31 billion, a P/E ratio of 20.22, a P/E/G ratio of 1.42 and a beta of 0.74. Amdocs Limited has a one year low of $74.41 and a one year high of $94.04. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.02. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. The business's revenue was up 1.1% on a year-over-year basis. As a group, analysts expect that Amdocs Limited will post 5.67 earnings per share for the current year.

Amdocs Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, September 30th were paid a dividend of $0.479 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.92 annualized dividend and a dividend yield of 2.18%. Amdocs's dividend payout ratio (DPR) is presently 44.01%.

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.