Oak Associates Ltd. OH Decreases Stake in Amdocs Limited (NASDAQ:DOX)

Oak Associates Ltd. OH trimmed its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 124,637 shares of the technology company’s stock after selling 500 shares during the quarter. Oak Associates Ltd. OH’s holdings in Amdocs were worth $9,836,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norwood Financial Corp acquired a new stake in Amdocs during the 1st quarter valued at approximately $33,000. Central Pacific Bank Trust Division purchased a new position in shares of Amdocs during the 1st quarter valued at approximately $53,000. Riverview Trust Co acquired a new stake in shares of Amdocs during the first quarter worth approximately $55,000. Quarry LP increased its stake in shares of Amdocs by 168.9% in the fourth quarter. Quarry LP now owns 656 shares of the technology company’s stock worth $58,000 after buying an additional 412 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in Amdocs in the fourth quarter valued at $63,000. Institutional investors and hedge funds own 92.02% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Amdocs from a “buy” rating to a “strong-buy” rating in a report on Friday. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Amdocs presently has a consensus rating of “Buy” and an average target price of $102.50.

Amdocs Stock Performance

DOX stock opened at $86.49 on Friday. The firm has a market cap of $10.17 billion, a P/E ratio of 19.44, a P/E/G ratio of 1.52 and a beta of 0.74. The stock’s 50 day simple moving average is $84.08 and its 200 day simple moving average is $84.19. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $94.04.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.02. Amdocs had a net margin of 10.21% and a return on equity of 17.89%. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the firm posted $1.41 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts predict that Amdocs Limited will post 5.67 EPS for the current year.

Amdocs Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be given a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Monday, September 30th. Amdocs’s payout ratio is 43.15%.

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.