Range Financial Group LLC Trims Stake in Amdocs Limited (NASDAQ:DOX)

Range Financial Group LLC lowered its holdings in Amdocs Limited (NASDAQ:DOXFree Report) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,065 shares of the technology company’s stock after selling 337 shares during the quarter. Range Financial Group LLC’s holdings in Amdocs were worth $1,236,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DOX. JPMorgan Chase & Co. purchased a new stake in shares of Amdocs in the 1st quarter valued at $7,002,000. Raymond James Financial Services Advisors Inc. increased its holdings in Amdocs by 6.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 11,833 shares of the technology company’s stock worth $973,000 after purchasing an additional 665 shares during the period. PNC Financial Services Group Inc. increased its holdings in Amdocs by 40.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 13,332 shares of the technology company’s stock worth $1,097,000 after purchasing an additional 3,840 shares during the period. Great West Life Assurance Co. Can increased its holdings in Amdocs by 3.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 46,252 shares of the technology company’s stock worth $4,041,000 after purchasing an additional 1,446 shares during the period. Finally, Yousif Capital Management LLC increased its holdings in Amdocs by 6.4% during the 1st quarter. Yousif Capital Management LLC now owns 6,770 shares of the technology company’s stock worth $557,000 after purchasing an additional 405 shares during the period. Hedge funds and other institutional investors own 90.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DOX. StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday. Barclays upped their price objective on Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Citigroup upped their price objective on Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Jefferies Financial Group began coverage on Amdocs in a research report on Friday, December 1st. They set a “buy” rating and a $105.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Amdocs currently has a consensus rating of “Buy” and an average target price of $108.60.

Read Our Latest Stock Analysis on Amdocs

Amdocs Stock Up 0.3 %

Amdocs stock opened at $92.49 on Monday. Amdocs Limited has a twelve month low of $78.38 and a twelve month high of $99.75. The stock has a 50 day moving average of $91.47 and a two-hundred day moving average of $86.97. 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 stock has a market capitalization of $10.87 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 1.52 and a beta of 0.69.

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

Amdocs Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.07%. This is an increase from Amdocs’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Wednesday, March 27th. Amdocs’s dividend payout ratio is 37.26%.

Amdocs Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Amdocs (NASDAQ:DOX)

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