Corient Private Wealth LLC Trims Stock Position in Amdocs Limited (NASDAQ:DOX)

Corient Private Wealth LLC reduced its stake in shares of Amdocs Limited (NASDAQ:DOX) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,328 shares of the technology company’s stock after selling 4,021 shares during the quarter. Corient Private Wealth LLC owned approximately 0.06% of Amdocs worth $6,158,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. First Horizon Advisors Inc. grew its position in shares of Amdocs by 1.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 5,902 shares of the technology company’s stock worth $516,000 after buying an additional 109 shares during the period. Private Trust Co. NA grew its position in shares of Amdocs by 62.9% in the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock worth $27,000 after buying an additional 117 shares during the period. Principal Securities Inc. grew its position in shares of Amdocs by 10.4% in the 4th quarter. Principal Securities Inc. now owns 1,341 shares of the technology company’s stock worth $114,000 after buying an additional 126 shares during the period. Morton Community Bank grew its position in shares of Amdocs by 0.4% in the 3rd quarter. Morton Community Bank now owns 36,410 shares of the technology company’s stock worth $3,185,000 after buying an additional 130 shares during the period. Finally, Global Retirement Partners LLC grew its position in shares of Amdocs by 45.6% in the 4th quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock worth $48,000 after buying an additional 175 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Stock Performance

Shares of Amdocs stock opened at $88.27 on Friday. The stock has a market cap of $9.96 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.47 and a beta of 0.68. The firm’s 50-day moving average is $87.21 and its 200 day moving average is $87.15. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $93.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20.

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 return on equity of 18.89% and a net margin of 10.19%. 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 Friday, April 25th. 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 represents a $2.11 annualized dividend and a yield of 2.39%. This is a boost from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s dividend payout ratio is currently 48.72%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $101.20.

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.