Rice Hall James & Associates LLC Lowers Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Rice Hall James & Associates LLC trimmed its position in shares of Amdocs Limited (NASDAQ:DOX) by 9.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 151,658 shares of the technology company’s stock after selling 15,365 shares during the quarter. Rice Hall James & Associates LLC owned 0.13% of Amdocs worth $12,912,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Atria Wealth Solutions Inc. boosted its holdings in Amdocs by 18.2% during the 4th quarter. Atria Wealth Solutions Inc. now owns 28,988 shares of the technology company’s stock valued at $2,482,000 after acquiring an additional 4,460 shares during the period. CIBC Asset Management Inc boosted its holdings in Amdocs by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,621 shares of the technology company’s stock valued at $308,000 after acquiring an additional 180 shares during the period. Allworth Financial LP boosted its holdings in Amdocs by 23.2% during the 4th quarter. Allworth Financial LP now owns 1,616 shares of the technology company’s stock valued at $138,000 after acquiring an additional 304 shares during the period. Principal Securities Inc. raised its stake in shares of Amdocs by 10.4% in the fourth quarter. Principal Securities Inc. now owns 1,341 shares of the technology company’s stock valued at $114,000 after acquiring an additional 126 shares in the last quarter. Finally, Sawgrass Asset Management LLC grew its stake in Amdocs by 57.3% during the 4th quarter. Sawgrass Asset Management LLC now owns 6,839 shares of the technology company’s stock worth $582,000 after purchasing an additional 2,490 shares in the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Stock Up 1.2 %

Shares of NASDAQ DOX opened at $88.30 on Tuesday. The company has a market capitalization of $9.97 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 1.41 and a beta of 0.71. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20. The business has a 50-day moving average of $85.92 and a two-hundred day moving average of $86.49. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $94.04.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.19). Amdocs had a return on equity of 18.89% and a net margin of 10.19%. On average, analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Monday, March 31st will be issued a $0.527 dividend. This is an increase from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Monday, March 31st. Amdocs’s payout ratio is presently 44.55%.

Analysts Set New Price Targets

Several research analysts recently commented on DOX shares. Barclays lowered their target price on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research note 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 boosted their target price on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Amdocs has a consensus rating of “Buy” and a consensus 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.