Parallel Advisors LLC Reduces Stock Position in Amdocs Limited (NASDAQ:DOX)

Parallel Advisors LLC lessened its holdings in Amdocs Limited (NASDAQ:DOX) by 10.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,836 shares of the technology company’s stock after selling 983 shares during the quarter. Parallel Advisors LLC’s holdings in Amdocs were worth $752,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Nordea Investment Management AB increased its holdings in Amdocs by 8.3% in the fourth quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company’s stock valued at $141,112,000 after buying an additional 127,426 shares during the last quarter. Mirabella Financial Services LLP increased its holdings in Amdocs by 204.2% in the third quarter. Mirabella Financial Services LLP now owns 14,302 shares of the technology company’s stock valued at $1,250,000 after buying an additional 9,600 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Amdocs by 7.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock valued at $154,587,000 after buying an additional 125,654 shares during the last quarter. Dudley & Shanley Inc. increased its holdings in Amdocs by 7.6% in the third quarter. Dudley & Shanley Inc. now owns 261,826 shares of the technology company’s stock valued at $22,905,000 after buying an additional 18,600 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in Amdocs by 8.7% in the third quarter. Citigroup Inc. now owns 78,491 shares of the technology company’s stock valued at $6,866,000 after buying an additional 6,294 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.20.

Amdocs Stock Performance

Shares of DOX stock opened at $88.32 on Friday. The stock’s 50-day moving average is $87.08 and its two-hundred day moving average is $87.14. The firm has a market cap of $9.97 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 1.47 and a beta of 0.68. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $93.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 earnings per share (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%. Analysts predict that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be given a $0.527 dividend. This represents a $2.11 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s payout ratio is 48.72%.

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.