Amdocs Limited (NASDAQ:DOX) Position Lessened by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,180 shares of the technology company's stock after selling 9,948 shares during the quarter. State of Alaska Department of Revenue owned 0.10% of Amdocs worth $9,636,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its position in shares of Amdocs by 1.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 5,902 shares of the technology company's stock valued at $516,000 after purchasing an additional 109 shares during the period. Private Trust Co. NA increased its position in shares of Amdocs by 62.9% during the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company's stock valued at $27,000 after purchasing an additional 117 shares during the period. Morton Community Bank increased its position in shares of Amdocs by 0.4% during the 3rd quarter. Morton Community Bank now owns 36,410 shares of the technology company's stock valued at $3,185,000 after purchasing an additional 130 shares during the period. Private Advisor Group LLC increased its position in shares of Amdocs by 3.2% during the 3rd quarter. Private Advisor Group LLC now owns 5,626 shares of the technology company's stock valued at $492,000 after purchasing an additional 175 shares during the period. Finally, KFG Wealth Management LLC increased its position in shares of Amdocs by 8.2% during the 4th quarter. KFG Wealth Management LLC now owns 2,496 shares of the technology company's stock valued at $213,000 after purchasing an additional 189 shares during the period. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barclays lowered their price target on Amdocs from $113.00 to $111.00 and set an "overweight" rating on the stock in a research report on Thursday, November 14th. StockNews.com raised Amdocs from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Finally, Oppenheimer raised their price objective on Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $101.20.

Amdocs Stock Up 0.2 %

Shares of Amdocs stock traded up $0.17 during midday trading on Monday, hitting $86.14. The company's stock had a trading volume of 482,016 shares, compared to its average volume of 634,984. The firm has a market capitalization of $9.72 billion, a P/E ratio of 19.97, a PEG ratio of 1.41 and a beta of 0.71. The stock has a 50-day simple moving average of $85.94 and a 200-day simple moving average of $86.47. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $94.04.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.45 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%. As a group, sell-side analysts expect that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Monday, March 31st will be given a $0.527 dividend. This represents a $2.11 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Monday, March 31st. This is a boost from Amdocs's previous quarterly dividend of $0.48. Amdocs's dividend payout ratio (DPR) is 44.55%.

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.