Amdocs Limited (NASDAQ:DOX) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in Amdocs Limited (NASDAQ:DOX) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 551,615 shares of the technology company’s stock after selling 4,040 shares during the quarter. California Public Employees Retirement System owned about 0.49% of Amdocs worth $46,965,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in DOX. Axxcess Wealth Management LLC boosted its holdings in shares of Amdocs by 5.4% in the 4th quarter. Axxcess Wealth Management LLC now owns 2,431 shares of the technology company’s stock valued at $207,000 after buying an additional 124 shares in the last quarter. Principal Securities Inc. lifted its position in 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 during the last quarter. Global Retirement Partners LLC boosted its stake in Amdocs by 45.6% in the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock valued at $48,000 after acquiring an additional 175 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Amdocs by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,621 shares of the technology company’s stock worth $308,000 after purchasing an additional 180 shares during the last quarter. Finally, KFG Wealth Management LLC increased its position in shares of Amdocs by 8.2% during the fourth quarter. KFG Wealth Management LLC now owns 2,496 shares of the technology company’s stock worth $213,000 after purchasing an additional 189 shares in the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Trading Down 0.5 %

NASDAQ DOX opened at $91.01 on Wednesday. The firm’s fifty day moving average is $88.13 and its two-hundred day moving average is $87.43. Amdocs Limited has a one year low of $74.41 and a one 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. The firm has a market cap of $10.27 billion, a PE ratio of 21.12, a P/E/G ratio of 1.47 and a beta of 0.68.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results 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 net margin of 10.19% and a return on equity of 18.89%. Analysts expect 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 issued a dividend of $0.527 per share. The ex-dividend date of this dividend is Monday, March 31st. 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 2.32%. Amdocs’s dividend payout ratio (DPR) is currently 48.72%.

Wall Street Analysts Forecast Growth

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

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.