Illinois Municipal Retirement Fund Trims Position in Amdocs Limited (NASDAQ:DOX)

Illinois Municipal Retirement Fund reduced its holdings in Amdocs Limited (NASDAQ:DOX) by 12.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 116,968 shares of the technology company’s stock after selling 17,262 shares during the period. Illinois Municipal Retirement Fund owned about 0.10% of Amdocs worth $9,959,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. First Horizon Advisors Inc. grew its stake in shares of Amdocs by 1.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 5,902 shares of the technology company’s stock worth $516,000 after purchasing an additional 109 shares during the period. Private Trust Co. NA boosted its holdings in Amdocs by 62.9% during the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock worth $27,000 after buying an additional 117 shares in the last quarter. Principal Securities Inc. grew its position in Amdocs by 10.4% during the fourth quarter. Principal Securities Inc. now owns 1,341 shares of the technology company’s stock valued at $114,000 after buying an additional 126 shares during the period. Morton Community Bank increased its holdings in Amdocs by 0.4% in the third quarter. Morton Community Bank now owns 36,410 shares of the technology company’s stock valued at $3,185,000 after buying an additional 130 shares in the last quarter. Finally, Private Advisor Group LLC raised its position in shares of Amdocs by 3.2% in the third quarter. Private Advisor Group LLC now owns 5,626 shares of the technology company’s stock worth $492,000 after acquiring an additional 175 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Price Performance

Shares of NASDAQ DOX opened at $88.94 on Wednesday. The stock has a market capitalization of $10.04 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 1.47 and a beta of 0.71. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The firm has a 50-day simple moving average of $86.09 and a 200-day simple moving average of $86.69. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22.

Amdocs (NASDAQ:DOX) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share 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, equities analysts predict that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Monday, March 31st will be issued a $0.527 dividend. This is a boost from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Monday, March 31st. Amdocs’s dividend payout ratio is presently 48.72%.

Analyst Upgrades and Downgrades

DOX has been the topic of a number of recent analyst reports. StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 19th. Oppenheimer lifted their price target on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Barclays cut their price target 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Amdocs presently has an average rating of “Moderate Buy” and a consensus target price of $101.20.

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.