Schroder Investment Management Group Sells 954,783 Shares of Amdocs Limited (NASDAQ:DOX)

Schroder Investment Management Group lowered its stake in Amdocs Limited (NASDAQ:DOXFree Report) by 54.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 787,216 shares of the technology company’s stock after selling 954,783 shares during the quarter. Schroder Investment Management Group owned approximately 0.67% of Amdocs worth $69,188,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Prudential PLC increased its stake in shares of Amdocs by 89.3% in the fourth quarter. Prudential PLC now owns 40,244 shares of the technology company’s stock valued at $3,537,000 after buying an additional 18,982 shares during the period. AdvisorShares Investments LLC acquired a new position in shares of Amdocs during the fourth quarter worth approximately $452,000. CenterBook Partners LP lifted its holdings in shares of Amdocs by 4.8% in the 4th quarter. CenterBook Partners LP now owns 45,529 shares of the technology company’s stock worth $4,002,000 after purchasing an additional 2,095 shares in the last quarter. Cibc World Markets Corp acquired a new stake in Amdocs in the 4th quarter valued at $6,152,000. Finally, Oppenheimer & Co. Inc. grew its position in Amdocs by 48.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 31,796 shares of the technology company’s stock valued at $2,795,000 after purchasing an additional 10,391 shares during the period. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. Citigroup cut their target price on Amdocs from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, Robert W. Baird decreased their target price on Amdocs from $97.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Amdocs presently has a consensus rating of “Moderate Buy” and an average target price of $104.83.

Read Our Latest Research Report on Amdocs

Amdocs Stock Performance

Shares of NASDAQ DOX traded down $0.20 during trading on Friday, hitting $76.49. The company had a trading volume of 832,625 shares, compared to its average volume of 814,061. The stock has a 50 day simple moving average of $83.51 and a 200 day simple moving average of $87.38. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market capitalization of $8.99 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 1.35 and a beta of 0.74. Amdocs Limited has a 12 month low of $76.24 and a 12 month high of $99.75.

Amdocs (NASDAQ:DOXGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The technology company reported $1.38 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.05). The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Amdocs had a net margin of 10.62% and a return on equity of 17.85%. As a group, analysts anticipate that Amdocs Limited will post 5.72 earnings per share for the current year.

Amdocs Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be given a dividend of $0.479 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.92 annualized dividend and a dividend yield of 2.50%. Amdocs’s dividend payout ratio (DPR) is 43.15%.

Amdocs Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Amdocs (NASDAQ:DOX)

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