Truist Financial Corp Decreases Position in Amdocs Limited (NASDAQ:DOX)

Truist Financial Corp lowered its holdings in Amdocs Limited (NASDAQ:DOX) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 65,773 shares of the technology company’s stock after selling 1,520 shares during the period. Truist Financial Corp’s holdings in Amdocs were worth $5,781,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DOX. Xponance Inc. boosted its holdings in Amdocs by 8.4% in the third quarter. Xponance Inc. now owns 4,469 shares of the technology company’s stock valued at $378,000 after purchasing an additional 348 shares during the last quarter. Raymond James & Associates boosted its holdings in Amdocs by 3.2% in the third quarter. Raymond James & Associates now owns 388,941 shares of the technology company’s stock valued at $32,862,000 after purchasing an additional 12,148 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Amdocs by 3.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,599 shares of the technology company’s stock worth $473,000 after buying an additional 191 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Amdocs by 9.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 365,317 shares of the technology company’s stock worth $30,866,000 after buying an additional 31,676 shares during the last quarter. Finally, Brown Advisory Inc. lifted its holdings in Amdocs by 2.7% during the 3rd quarter. Brown Advisory Inc. now owns 642,567 shares of the technology company’s stock worth $54,290,000 after buying an additional 16,777 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Amdocs Stock Performance

DOX opened at $83.90 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $88.95 and its 200-day moving average is $87.43. The stock has a market cap of $9.86 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.36 and a beta of 0.70. Amdocs Limited has a twelve month low of $78.38 and a twelve month high of $99.75.

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

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, March 29th were given a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.28%. This is an increase from Amdocs’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Wednesday, March 27th. Amdocs’s payout ratio is 41.11%.

Analyst Upgrades and Downgrades

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

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.