Mitsubishi UFJ Trust & Banking Corp Has $603,000 Stake in Amdocs Limited (NASDAQ:DOX)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Amdocs Limited (NASDAQ:DOXGet Rating) by 14.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,234 shares of the technology company’s stock after selling 1,193 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Amdocs were worth $603,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in shares of Amdocs in the first quarter valued at about $36,000. Quent Capital LLC grew its position in shares of Amdocs by 113.5% in the first quarter. Quent Capital LLC now owns 839 shares of the technology company’s stock valued at $69,000 after purchasing an additional 446 shares during the last quarter. Zions Bancorporation N.A. acquired a new stake in shares of Amdocs in the first quarter valued at about $83,000. Brown Brothers Harriman & Co. grew its position in Amdocs by 787.2% during the first quarter. Brown Brothers Harriman & Co. now owns 1,180 shares of the technology company’s stock worth $97,000 after buying an additional 1,047 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. acquired a new stake in Amdocs during the second quarter worth about $138,000. 88.11% of the stock is owned by institutional investors and hedge funds.

Amdocs Stock Performance

NASDAQ:DOX opened at $84.50 on Tuesday. Amdocs Limited has a 1 year low of $68.33 and a 1 year high of $90.77. The firm has a 50 day moving average of $81.91 and a 200-day moving average of $83.60. The company has a current ratio of 1.60, a quick ratio of 1.59 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $11.08 billion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 1.38 and a beta of 0.69.

Amdocs (NASDAQ:DOXGet Rating) last posted its earnings results on Tuesday, November 8th. The technology company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.13. Amdocs had a net margin of 12.01% and a return on equity of 16.62%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the company posted $1.07 earnings per share. Amdocs’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amdocs Limited will post 5.35 EPS for the current fiscal year.

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Investors of record on Friday, December 30th will be given a $0.395 dividend. This represents a $1.58 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Thursday, December 29th. Amdocs’s dividend payout ratio (DPR) is presently 35.59%.

Analysts Set New Price Targets

A number of research firms recently weighed in on DOX. downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 11th. Oppenheimer reissued an “outperform” rating and set a $84.00 target price on shares of Amdocs in a research report on Thursday, November 10th. Barclays lifted their target price on Amdocs to $100.00 in a research report on Tuesday, November 15th. Robert W. Baird cut their price target on shares of Amdocs to $85.00 in a research note on Tuesday, November 15th. Finally, Citigroup cut their price target on shares of Amdocs from $99.00 to $96.00 and set a “buy” rating for the company in a research note on Wednesday, November 9th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.20.

About Amdocs

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Amdocs Limited, through its subsidiaries, provides software and services worldwide. The company designs, develops, operates, implements, supports, and markets open and modular cloud portfolio. It provides CES21, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; the Commerce and Care suite for order capture, handling, and customer engagement; 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; MarketONE, a cloud-native business ecosystem; Digital Brands Suite, a pre-integrated digital business suite for digital telecom brands and small-scale service providers; and eSIM Cloud for service providers.

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Institutional Ownership by Quarter for Amdocs (NASDAQ:DOX)

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