Daiwa Securities Group Inc. Decreases Position in Amdocs Limited (NASDAQ:DOX)

Daiwa Securities Group Inc. reduced its position in shares of Amdocs Limited (NASDAQ:DOX) by 11.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,370 shares of the technology company’s stock after selling 2,155 shares during the period. Daiwa Securities Group Inc.’s holdings in Amdocs were worth $1,439,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Oakworth Capital Inc. acquired a new stake in Amdocs during the 4th quarter worth $26,000. Cookson Peirce & Co. Inc. grew its stake in Amdocs by 9.8% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 5,241 shares of the technology company’s stock valued at $461,000 after acquiring an additional 468 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Amdocs by 32.4% in the 4th quarter. Mackenzie Financial Corp now owns 71,351 shares of the technology company’s stock valued at $6,271,000 after acquiring an additional 17,447 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in Amdocs in the 4th quarter worth approximately $264,000. Finally, Vaughan David Investments LLC IL boosted its holdings in shares of Amdocs by 1.7% during the 4th quarter. Vaughan David Investments LLC IL now owns 376,817 shares of the technology company’s stock worth $33,118,000 after purchasing an additional 6,448 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Citigroup increased their price target on Amdocs from $96.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Barclays raised their target price on Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Finally, StockNews.com cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Amdocs currently has an average rating of “Buy” and an average price target of $108.60.

Amdocs Trading Up 0.3 %

DOX opened at $86.57 on Wednesday. The stock has a market capitalization of $10.18 billion, a PE ratio of 18.54, a P/E/G ratio of 1.40 and a beta of 0.69. Amdocs Limited has a one year low of $78.38 and a one year high of $99.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.29 and a current ratio of 1.29. The business’s 50 day moving average price is $89.93 and its 200 day moving average price is $87.33.

Amdocs (NASDAQ:DOX) last posted its earnings results on Tuesday, February 6th. The technology company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.16. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.24 billion. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.33 earnings per share. As a group, equities research analysts expect that Amdocs Limited will post 5.87 EPS for the current year.

Amdocs Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, March 29th will be given a $0.479 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.92 dividend on an annualized basis and a yield of 2.21%. This is a boost from Amdocs’s previous quarterly dividend of $0.44. Amdocs’s dividend payout ratio is presently 40.90%.

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.