Howe & Rusling Inc. Sells 9,481 Shares of Amdocs Limited (NASDAQ:DOX)

Howe & Rusling Inc. lowered its stake in Amdocs Limited (NASDAQ:DOX) by 10.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 83,287 shares of the technology company’s stock after selling 9,481 shares during the quarter. Howe & Rusling Inc.’s holdings in Amdocs were worth $7,320,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC purchased a new position in shares of Amdocs in the fourth quarter worth $25,000. Operose Advisors LLC grew its holdings in Amdocs by 148.0% during the 3rd quarter. Operose Advisors LLC now owns 310 shares of the technology company’s stock valued at $26,000 after buying an additional 185 shares in the last quarter. Oakworth Capital Inc. bought a new stake in Amdocs in the 4th quarter worth approximately $26,000. VisionPoint Advisory Group LLC raised its holdings in shares of Amdocs by 77.7% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 503 shares of the technology company’s stock worth $42,000 after acquiring an additional 220 shares in the last quarter. Finally, Allworth Financial LP boosted its position in shares of Amdocs by 16,840.0% during the 3rd quarter. Allworth Financial LP now owns 847 shares of the technology company’s stock valued at $72,000 after acquiring an additional 842 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on DOX shares. Barclays raised their price objective on Amdocs from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Citigroup raised their target price on shares of Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $108.60.

Amdocs Trading Down 0.6 %

Shares of NASDAQ:DOX traded down $0.47 on Wednesday, hitting $83.52. 721,176 shares of the company’s stock were exchanged, compared to its average volume of 647,853. The business’s 50 day simple moving average is $89.38 and its two-hundred day simple moving average is $87.43. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $9.82 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 1.38 and a beta of 0.69. Amdocs Limited has a 12 month low of $78.38 and a 12 month high of $99.75.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.16. The company had revenue of $1.25 billion during 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 firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.33 EPS. Analysts anticipate that Amdocs Limited will post 5.87 EPS for the current fiscal year.

Amdocs Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, March 29th were given a $0.479 dividend. This represents a $1.92 annualized dividend and a yield of 2.29%. This is a boost from Amdocs’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Wednesday, March 27th. Amdocs’s payout ratio is 41.11%.

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.