Prudential Financial Inc. Sells 459 Shares of Amdocs Limited (NASDAQ:DOX)

Prudential Financial Inc. lessened its stake in shares of Amdocs Limited (NASDAQ:DOX) by 16.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,400 shares of the technology company’s stock after selling 459 shares during the period. Prudential Financial Inc.’s holdings in Amdocs were worth $202,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in DOX. Axxcess Wealth Management LLC raised its holdings in Amdocs by 5.4% in the 4th quarter. Axxcess Wealth Management LLC now owns 2,431 shares of the technology company’s stock worth $207,000 after acquiring an additional 124 shares during the period. Principal Securities Inc. increased its stake in shares of Amdocs by 10.4% in the fourth quarter. Principal Securities Inc. now owns 1,341 shares of the technology company’s stock worth $114,000 after purchasing an additional 126 shares during the period. Global Retirement Partners LLC lifted its position in shares of Amdocs by 45.6% during the 4th quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock worth $48,000 after purchasing an additional 175 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Amdocs by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,621 shares of the technology company’s stock valued at $308,000 after purchasing an additional 180 shares during the period. Finally, KFG Wealth Management LLC grew its holdings in Amdocs by 8.2% in the 4th quarter. KFG Wealth Management LLC now owns 2,496 shares of the technology company’s stock valued at $213,000 after buying an additional 189 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Trading Up 1.2 %

Shares of DOX opened at $83.18 on Friday. The stock’s 50-day moving average price is $87.67 and its 200 day moving average price is $87.26. 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 Limited has a 12-month low of $74.41 and a 12-month high of $93.34. The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 1.47 and a beta of 0.59.

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

Amdocs Increases Dividend

The firm 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 represents a $2.11 dividend on an annualized basis and a yield of 2.53%. This is a boost from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s payout ratio is presently 48.72%.

Analysts Set New Price Targets

Separately, StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to 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.