State of Alaska Department of Revenue Sells 9,948 Shares of Amdocs Limited (NASDAQ:DOX)

State of Alaska Department of Revenue trimmed its position in Amdocs Limited (NASDAQ:DOX) by 8.1% during the fourth quarter, Holdings Channel reports. The firm owned 113,180 shares of the technology company’s stock after selling 9,948 shares during the quarter. State of Alaska Department of Revenue’s holdings in Amdocs were worth $9,636,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Private Trust Co. NA grew its position in shares of Amdocs by 62.9% in the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after purchasing an additional 117 shares during the last quarter. Brooklyn Investment Group bought a new stake in Amdocs in the 3rd quarter valued at $28,000. Catalyst Capital Advisors LLC bought a new stake in Amdocs in the 3rd quarter valued at $55,000. GAMMA Investing LLC grew its holdings in Amdocs by 115.1% in the 3rd quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after buying an additional 428 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Amdocs in the third quarter valued at about $77,000. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Trading Down 2.5 %

Shares of DOX stock opened at $85.96 on Friday. The firm has a market capitalization of $9.70 billion, a P/E ratio of 20.27, a P/E/G ratio of 1.47 and a beta of 0.71. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. The stock’s fifty day simple moving average is $85.98 and its 200 day simple moving average is $86.41. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $94.04.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.19). Amdocs had a return on equity of 18.69% and a net margin of 9.85%. As a group, sell-side analysts predict that Amdocs Limited will post 6.19 EPS for the current fiscal year.

Amdocs Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Investors of record on Monday, March 31st will be paid a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s dividend payout ratio (DPR) is currently 45.28%.

Analyst Ratings Changes

A number of research firms have issued reports on DOX. Barclays cut their price objective on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Oppenheimer raised their price objective on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, StockNews.com upgraded Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $101.20.

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.