Venturi Wealth Management LLC Sells 690 Shares of Amdocs Limited (NASDAQ:DOX)

Venturi Wealth Management LLC lowered its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 5.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,035 shares of the technology company’s stock after selling 690 shares during the period. Venturi Wealth Management LLC’s holdings in Amdocs were worth $940,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Private Trust Co. NA grew its stake in shares of Amdocs by 62.9% during the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after buying an additional 117 shares during the last quarter. Brooklyn Investment Group bought a new position in Amdocs during the 3rd quarter worth approximately $28,000. Catalyst Capital Advisors LLC purchased a new position in Amdocs in the 3rd quarter worth approximately $55,000. Meeder Asset Management Inc. purchased a new position in Amdocs in the 3rd quarter worth approximately $77,000. Finally, Principal Securities Inc. lifted its position in Amdocs by 10.4% in the fourth quarter. Principal Securities Inc. now owns 1,341 shares of the technology company’s stock valued at $114,000 after purchasing an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Amdocs from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Barclays cut their price target on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Finally, Oppenheimer upped their target price on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $101.20.

Amdocs Stock Performance

Shares of Amdocs stock opened at $89.55 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20. The stock has a market cap of $10.11 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 1.41 and a beta of 0.71. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $94.04. The firm’s 50-day moving average is $85.92 and its 200 day moving average is $86.49.

Amdocs (NASDAQ:DOX) last announced its quarterly 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 net margin of 10.19% and a return on equity of 18.89%. Sell-side analysts anticipate that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.527 per share. The ex-dividend date is Monday, March 31st. This is a positive change from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 dividend on an annualized basis and a yield of 2.35%. Amdocs’s payout ratio is currently 48.72%.

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.