Amdocs Limited (NASDAQ:DOX) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 263,455 shares of the technology company's stock after selling 7,226 shares during the period. Rhumbline Advisers owned 0.23% of Amdocs worth $22,431,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Creative Planning raised its position in Amdocs by 37.3% during the 3rd quarter. Creative Planning now owns 15,111 shares of the technology company's stock worth $1,322,000 after buying an additional 4,104 shares during the last quarter. Blue Trust Inc. raised its position in Amdocs by 58.2% during the 3rd quarter. Blue Trust Inc. now owns 1,800 shares of the technology company's stock worth $157,000 after buying an additional 662 shares during the last quarter. Foundations Investment Advisors LLC purchased a new position in Amdocs during the 3rd quarter worth $226,000. Private Advisor Group LLC raised its position in Amdocs by 3.2% during the 3rd quarter. Private Advisor Group LLC now owns 5,626 shares of the technology company's stock worth $492,000 after buying an additional 175 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Amdocs during the 3rd quarter worth $8,950,000. Institutional investors and hedge funds own 92.02% of the company's stock.

Amdocs Price Performance

NASDAQ:DOX traded down $1.40 during mid-day trading on Friday, hitting $87.91. 726,643 shares of the company's stock traded hands, compared to its average volume of 651,589. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. The firm's 50 day simple moving average is $86.06 and its 200 day simple moving average is $86.56. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $94.04. The company has a market cap of $9.92 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.48 and a beta of 0.71.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its earnings results 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%. Sell-side analysts expect that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Monday, March 31st will be issued 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 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Monday, March 31st. Amdocs's dividend payout ratio (DPR) is 44.55%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barclays cut their price objective on shares of Amdocs from $113.00 to $111.00 and set an "overweight" rating for the company in a research report on Thursday, November 14th. StockNews.com downgraded shares of Amdocs from a "strong-buy" rating to a "buy" rating in a report on Wednesday. Finally, Oppenheimer increased their price target on shares of Amdocs from $98.00 to $105.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Amdocs presently has a consensus rating of "Moderate Buy" and an average price target of $101.20.

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.