AGF Management Ltd. Has $2.53 Million Stock Position in Amdocs Limited (NASDAQ:DOX)

AGF Management Ltd. cut its stake in shares of Amdocs Limited (NASDAQ:DOX) by 18.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,762 shares of the technology company’s stock after selling 6,512 shares during the period. AGF Management Ltd.’s holdings in Amdocs were worth $2,534,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Atria Investments Inc increased its stake in Amdocs by 7.2% in the third quarter. Atria Investments Inc now owns 9,408 shares of the technology company’s stock valued at $823,000 after purchasing an additional 634 shares in the last quarter. Aptus Capital Advisors LLC grew its holdings in shares of Amdocs by 15.4% in the 3rd quarter. Aptus Capital Advisors LLC now owns 35,766 shares of the technology company’s stock valued at $3,129,000 after buying an additional 4,770 shares during the period. Victory Capital Management Inc. increased its position in shares of Amdocs by 1.9% in the 3rd quarter. Victory Capital Management Inc. now owns 478,137 shares of the technology company’s stock valued at $41,827,000 after buying an additional 9,098 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in Amdocs during the 3rd quarter worth $223,000. Finally, Empowered Funds LLC lifted its holdings in Amdocs by 23.7% during the third quarter. Empowered Funds LLC now owns 13,105 shares of the technology company’s stock worth $1,146,000 after acquiring an additional 2,510 shares in the last quarter. Institutional investors own 92.02% of the company’s stock.

Amdocs Stock Down 0.9 %

DOX stock opened at $86.62 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20. The stock has a market capitalization of $9.78 billion, a P/E ratio of 20.10, a P/E/G ratio of 1.47 and a beta of 0.68. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $93.83. The business has a 50-day moving average of $86.64 and a 200-day moving average of $87.03.

Amdocs (NASDAQ:DOX) last released its earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. On average, sell-side analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be paid a $0.527 dividend. The ex-dividend date is Monday, March 31st. This is a boost from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 annualized dividend and a dividend yield of 2.43%. Amdocs’s dividend payout ratio (DPR) is currently 48.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Barclays lowered their target price on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate 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.