Amdocs Limited (NASDAQ:DOX) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its position in Amdocs Limited (NASDAQ:DOX) by 8.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,993 shares of the technology company’s stock after selling 549 shares during the period. Maryland State Retirement & Pension System’s holdings in Amdocs were worth $510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in DOX. Natixis Advisors LLC increased its holdings in shares of Amdocs by 1.3% in the third quarter. Natixis Advisors LLC now owns 27,592 shares of the technology company’s stock valued at $2,414,000 after purchasing an additional 346 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Amdocs during the 3rd quarter worth approximately $2,911,000. Charles Schwab Investment Management Inc. lifted its stake in Amdocs by 5.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 207,137 shares of the technology company’s stock valued at $18,120,000 after acquiring an additional 11,179 shares during the period. Raymond James Trust N.A. boosted its holdings in shares of Amdocs by 20.9% in the 3rd quarter. Raymond James Trust N.A. now owns 7,008 shares of the technology company’s stock valued at $613,000 after acquiring an additional 1,212 shares during the last quarter. Finally, Citigroup Inc. increased its stake in shares of Amdocs by 8.7% in the third quarter. Citigroup Inc. now owns 78,491 shares of the technology company’s stock worth $6,866,000 after acquiring an additional 6,294 shares during the period. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Price Performance

NASDAQ:DOX opened at $89.78 on Tuesday. 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 company has a 50 day moving average price of $87.33 and a 200-day moving average price of $87.19. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $93.34. The firm has a market cap of $10.14 billion, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 1.47 and a beta of 0.68.

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

Amdocs Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.527 per share. The ex-dividend date is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.35%. This is a boost from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s payout ratio is currently 48.72%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate 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.