New York State Common Retirement Fund Cuts Stock Position in Amdocs Limited (NASDAQ:DOX)

New York State Common Retirement Fund reduced its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 17.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 548,774 shares of the technology company's stock after selling 112,777 shares during the quarter. New York State Common Retirement Fund owned about 0.49% of Amdocs worth $46,723,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DOX. Pzena Investment Management LLC increased its holdings in Amdocs by 12.3% in the third quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company's stock worth $556,700,000 after purchasing an additional 696,136 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Amdocs by 123.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 759,136 shares of the technology company's stock valued at $66,409,000 after acquiring an additional 419,045 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Amdocs by 1,207.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 271,701 shares of the technology company's stock valued at $23,768,000 after acquiring an additional 250,918 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Amdocs by 10.8% during the third quarter. Geode Capital Management LLC now owns 1,633,733 shares of the technology company's stock valued at $143,498,000 after acquiring an additional 158,843 shares in the last quarter. Finally, Rice Hall James & Associates LLC increased its holdings in shares of Amdocs by 338.3% during the third quarter. Rice Hall James & Associates LLC now owns 167,023 shares of the technology company's stock valued at $14,611,000 after acquiring an additional 128,919 shares in the last quarter. 92.02% of the stock is currently owned by institutional investors.

Amdocs Stock Down 1.6 %

Amdocs stock traded down $1.40 during trading on Friday, hitting $87.91. 726,643 shares of the company were exchanged, compared to its average volume of 691,938. The business's 50 day moving average is $86.06 and its 200 day moving average is $86.56. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The company has a market capitalization of $9.92 billion, a P/E ratio of 20.40, a PEG ratio of 1.47 and a beta of 0.71. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22.

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 the consensus estimate of $1.64 by ($0.19). Amdocs had a return on equity of 18.89% and a net margin of 10.19%. Analysts predict that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Monday, March 31st will be given a $0.527 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 2.40%. This is a boost from Amdocs's previous quarterly dividend of $0.48. Amdocs's payout ratio is currently 44.55%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on DOX shares. Barclays decreased their price objective on Amdocs from $113.00 to $111.00 and set an "overweight" rating for the company in a report on Thursday, November 14th. StockNews.com downgraded Amdocs from a "strong-buy" rating to a "buy" rating in a report on Wednesday. Finally, Oppenheimer boosted their price objective on Amdocs from $98.00 to $105.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company 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.