Massachusetts Financial Services Co. MA Cuts Position in Amdocs Limited (NASDAQ:DOX)

Massachusetts Financial Services Co. MA decreased its position in Amdocs Limited (NASDAQ:DOX) by 0.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 464,891 shares of the technology company’s stock after selling 3,712 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Amdocs were worth $42,538,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Cornerstone Planning Group LLC acquired a new position in shares of Amdocs during the 1st quarter worth about $27,000. AdvisorNet Financial Inc lifted its stake in Amdocs by 382.9% during the first quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company’s stock worth $31,000 after purchasing an additional 268 shares during the last quarter. NBC Securities Inc. acquired a new stake in Amdocs in the first quarter valued at $31,000. Tower Research Capital LLC TRC lifted its position in Amdocs by 55.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company’s stock valued at $50,000 after acquiring an additional 208 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Amdocs by 127.9% in the 4th quarter. Farther Finance Advisors LLC now owns 841 shares of the technology company’s stock valued at $72,000 after buying an additional 472 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Amdocs from a “hold” rating to a “buy” rating in a report on Saturday, June 7th. Wolfe Research began coverage on shares of Amdocs in a report on Tuesday, July 8th. They issued an “outperform” rating for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Amdocs currently has a consensus rating of “Buy” and a consensus target price of $105.33.

Amdocs Price Performance

Amdocs stock opened at $89.31 on Friday. The business has a fifty day moving average of $91.56 and a two-hundred day moving average of $88.37. Amdocs Limited has a one year low of $78.61 and a one year high of $95.41. The company has a market cap of $10.08 billion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.16 and a current ratio of 1.16.

Amdocs (NASDAQ:DOX) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. Amdocs had a return on equity of 19.52% and a net margin of 11.39%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the company posted $1.56 EPS. Amdocs’s revenue for the quarter was down 9.4% on a year-over-year basis. As a group, analysts predict that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, June 30th will be given a dividend of $0.527 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a yield of 2.36%. Amdocs’s dividend payout ratio is currently 44.42%.

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.