Maryland State Retirement & Pension System Reduces Stake in Amdocs Limited (NASDAQ:DOX)

Maryland State Retirement & Pension System lessened its stake in shares of Amdocs Limited (NASDAQ:DOX) by 8.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,993 shares of the technology company’s stock after selling 549 shares during the period. Maryland State Retirement & Pension System’s holdings in Amdocs were worth $510,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Pzena Investment Management LLC increased its holdings in shares of Amdocs by 4.3% during the 4th quarter. Pzena Investment Management LLC now owns 6,634,549 shares of the technology company’s stock worth $564,866,000 after buying an additional 270,810 shares during the last quarter. Janus Henderson Group PLC grew its position in Amdocs by 1.7% in the third quarter. Janus Henderson Group PLC now owns 6,625,875 shares of the technology company’s stock worth $579,632,000 after acquiring an additional 111,357 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Amdocs by 2.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,263,591 shares of the technology company’s stock worth $274,681,000 after acquiring an additional 87,801 shares during the last quarter. Wellington Management Group LLP raised its position in Amdocs by 0.8% in the third quarter. Wellington Management Group LLP now owns 2,136,932 shares of the technology company’s stock valued at $186,939,000 after purchasing an additional 16,580 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in shares of Amdocs by 7.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock valued at $154,587,000 after purchasing an additional 125,654 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.20.

Amdocs Price Performance

DOX stock opened at $89.78 on Tuesday. The business’s fifty day moving average price is $87.33 and its 200 day moving average price is $87.19. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $93.34. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $10.14 billion, a PE ratio of 20.83, 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 return on equity of 18.89% and a net margin of 10.19%. On average, sell-side analysts anticipate that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be given a dividend of $0.527 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.35%. This is a positive change from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s dividend payout ratio is currently 48.72%.

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.