Marks Group Wealth Management Inc Reduces Stake in Amdocs Limited $DOX

Marks Group Wealth Management Inc cut its stake in shares of Amdocs Limited (NASDAQ:DOX) by 10.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 81,237 shares of the technology company’s stock after selling 9,043 shares during the period. Marks Group Wealth Management Inc owned about 0.08% of Amdocs worth $6,540,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. WealthCollab LLC lifted its position in Amdocs by 94.5% during the third quarter. WealthCollab LLC now owns 356 shares of the technology company’s stock valued at $29,000 after purchasing an additional 173 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new position in Amdocs during the third quarter valued at $37,000. BOK Financial Private Wealth Inc. purchased a new position in Amdocs during the fourth quarter valued at $37,000. Abich Financial Wealth Management LLC purchased a new position in Amdocs during the third quarter valued at $39,000. Finally, Los Angeles Capital Management LLC purchased a new position in Amdocs during the fourth quarter valued at $39,000. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Trading Down 2.9%

Shares of DOX stock opened at $58.34 on Tuesday. Amdocs Limited has a 12-month low of $58.21 and a 12-month high of $95.41. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. The stock’s 50-day moving average price is $63.82 and its 200-day moving average price is $71.24. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 1.04 and a beta of 0.38.

Amdocs (NASDAQ:DOX) last issued its earnings results on Thursday, May 14th. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.01. Amdocs had a return on equity of 19.77% and a net margin of 11.81%.The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the firm posted $1.78 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. Equities research analysts predict that Amdocs Limited will post 6.56 EPS for the current fiscal year.

Amdocs Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a $0.569 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Amdocs’s payout ratio is 45.60%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Stifel Nicolaus lowered their price objective on Amdocs from $88.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Cfra downgraded Amdocs to a “sell” rating in a research report on Thursday, May 14th. Wall Street Zen downgraded Amdocs from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Amdocs in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $86.67.

Amdocs Profile

Amdocs (NASDAQ: DOX) is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs’ product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra’anana, Israel.