Beutel Goodman & Co Ltd. Sells 6,391 Shares of Amdocs Limited (NASDAQ:DOX)

Beutel Goodman & Co Ltd. trimmed its holdings in Amdocs Limited (NASDAQ:DOX) by 0.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,984,681 shares of the technology company’s stock after selling 6,391 shares during the period. Amdocs comprises about 2.3% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its 8th largest holding. Beutel Goodman & Co Ltd.’s holdings in Amdocs were worth $424,395,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Orion Portfolio Solutions LLC raised its holdings in shares of Amdocs by 9.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 50,519 shares of the technology company’s stock worth $4,301,000 after acquiring an additional 4,506 shares during the period. Norges Bank acquired a new stake in shares of Amdocs in the 4th quarter valued at about $824,000. Signature Estate & Investment Advisors LLC raised its stake in shares of Amdocs by 5.2% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 24,623 shares of the technology company’s stock valued at $2,096,000 after purchasing an additional 1,212 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Amdocs by 16.1% in the fourth quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company’s stock valued at $261,756,000 after purchasing an additional 426,035 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Amdocs by 25.4% during the fourth quarter. LPL Financial LLC now owns 123,015 shares of the technology company’s stock worth $10,473,000 after buying an additional 24,947 shares in the last quarter. 92.02% of the stock is currently owned by institutional investors.

Amdocs Stock Performance

DOX opened at $90.95 on Friday. The business’s 50-day simple moving average is $87.89 and its 200 day simple moving average is $87.33. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $93.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. The firm has a market capitalization of $10.27 billion, a PE ratio of 21.10, a PEG ratio of 1.47 and a beta of 0.68.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 EPS for the quarter, missing the consensus estimate 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, sell-side analysts expect that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be issued a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, March 31st. Amdocs’s dividend payout ratio is presently 48.72%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Amdocs presently has a consensus rating of “Moderate Buy” and a consensus price target 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.