Daiwa Securities Group Inc. Sells 2,155 Shares of Amdocs Limited (NASDAQ:DOX)

Daiwa Securities Group Inc. lowered its position in shares of Amdocs Limited (NASDAQ:DOX) by 11.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,370 shares of the technology company’s stock after selling 2,155 shares during the period. Daiwa Securities Group Inc.’s holdings in Amdocs were worth $1,439,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Impact Partnership Wealth LLC bought a new stake in shares of Amdocs in the third quarter worth about $171,000. DAVENPORT & Co LLC grew its position in shares of Amdocs by 8.7% in the 3rd quarter. DAVENPORT & Co LLC now owns 2,785 shares of the technology company’s stock worth $235,000 after buying an additional 223 shares during the last quarter. Boston Trust Walden Corp increased its stake in shares of Amdocs by 0.5% during the third quarter. Boston Trust Walden Corp now owns 509,673 shares of the technology company’s stock valued at $43,062,000 after buying an additional 2,439 shares during the period. Riverwater Partners LLC bought a new position in shares of Amdocs during the third quarter valued at approximately $470,000. Finally, Oak Thistle LLC purchased a new stake in Amdocs in the third quarter worth $1,428,000. Institutional investors own 92.02% of the company’s stock.

Amdocs Stock Up 0.3 %

Amdocs stock opened at $86.57 on Wednesday. The stock has a market cap of $10.18 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 1.40 and a beta of 0.69. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a fifty day moving average of $89.93 and a 200 day moving average of $87.33. Amdocs Limited has a one year low of $78.38 and a one year high of $99.75.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.16. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Amdocs had a net margin of 11.30% and a return on equity of 17.79%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.33 EPS. As a group, sell-side analysts predict that Amdocs Limited will post 5.87 EPS for the current year.

Amdocs Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, March 29th will be issued a $0.479 dividend. The ex-dividend date is Wednesday, March 27th. This is a boost from Amdocs’s previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a yield of 2.21%. Amdocs’s payout ratio is currently 40.90%.

Wall Street Analyst Weigh In

Several research firms have recently commented on DOX. Citigroup raised their target price on shares of Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. Finally, Barclays increased their target price on Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $108.60.

Amdocs Company 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.