Amdocs Limited (NASDAQ:DOX) Shares Sold by Ballast Asset Management LP

Ballast Asset Management LP lowered its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 40.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,404 shares of the technology company’s stock after selling 16,790 shares during the period. Ballast Asset Management LP’s holdings in Amdocs were worth $2,078,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in DOX. Jones Financial Companies Lllp acquired a new position in shares of Amdocs during the fourth quarter valued at approximately $36,000. SBI Securities Co. Ltd. bought a new position in Amdocs during the 4th quarter valued at $41,000. Global Retirement Partners LLC boosted its stake in Amdocs by 45.6% during the 4th quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock valued at $48,000 after purchasing an additional 175 shares in the last quarter. Private Trust Co. NA increased its position in shares of Amdocs by 121.5% during the 4th quarter. Private Trust Co. NA now owns 671 shares of the technology company’s stock valued at $57,000 after purchasing an additional 368 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of Amdocs by 199.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 686 shares of the technology company’s stock worth $59,000 after buying an additional 457 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Price Performance

NASDAQ DOX opened at $91.50 on Tuesday. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $93.34. The business’s fifty day moving average is $88.02 and its two-hundred day moving average is $87.40. The stock has a market capitalization of $10.33 billion, a P/E ratio of 21.23, a P/E/G ratio of 1.47 and a beta of 0.68. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16.

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

Amdocs Increases Dividend

The company also recently disclosed 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. This is a positive change from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 2.30%. Amdocs’s dividend payout ratio (DPR) is currently 48.72%.

Analyst Ratings Changes

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