abrdn plc Decreases Stock Position in Amdocs Limited (NASDAQ:DOX)

abrdn plc cut its stake in shares of Amdocs Limited (NASDAQ:DOX) by 26.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 454,293 shares of the technology company’s stock after selling 162,022 shares during the quarter. abrdn plc owned 0.39% of Amdocs worth $39,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Wealth Investment Group LLC lifted its position in Amdocs by 13.3% in the third quarter. Strategic Wealth Investment Group LLC now owns 12,984 shares of the technology company’s stock valued at $1,135,000 after purchasing an additional 1,520 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Amdocs by 4.9% in the third quarter. DekaBank Deutsche Girozentrale now owns 107,432 shares of the technology company’s stock worth $9,192,000 after buying an additional 5,000 shares during the period. GHP Investment Advisors Inc. raised its holdings in Amdocs by 2.1% during the 3rd quarter. GHP Investment Advisors Inc. now owns 103,065 shares of the technology company’s stock valued at $9,016,000 after buying an additional 2,132 shares during the last quarter. Boston Trust Walden Corp boosted its position in Amdocs by 0.4% during the 3rd quarter. Boston Trust Walden Corp now owns 620,709 shares of the technology company’s stock valued at $54,300,000 after buying an additional 2,322 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Amdocs by 3.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 65,430 shares of the technology company’s stock worth $5,724,000 after acquiring an additional 2,435 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors.

Amdocs Trading Down 0.6 %

NASDAQ:DOX opened at $88.09 on Thursday. The company has a 50-day moving average price of $87.30 and a 200-day moving average price of $83.62. The stock has a market cap of $10.35 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 1.42 and a beta of 0.74. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. Amdocs Limited has a 12 month low of $74.41 and a 12 month high of $94.04.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.60 by $0.02. Amdocs had a net margin of 10.21% and a return on equity of 17.89%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the business posted $1.41 earnings per share. Amdocs’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities analysts predict that Amdocs Limited will post 5.67 EPS for the current year.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, September 30th were issued a $0.479 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.92 dividend on an annualized basis and a yield of 2.18%. Amdocs’s dividend payout ratio (DPR) is 42.92%.

Wall Street Analysts Forecast Growth

DOX has been the subject of several recent analyst reports. Stifel Nicolaus started coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price objective for the company. StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $102.00.

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.