Venturi Wealth Management LLC Lowers Position in Amdocs Limited (NASDAQ:DOX)

Venturi Wealth Management LLC cut its stake in Amdocs Limited (NASDAQ:DOXFree Report) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,661 shares of the technology company’s stock after selling 207 shares during the quarter. Venturi Wealth Management LLC’s holdings in Amdocs were worth $849,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of DOX. VisionPoint Advisory Group LLC purchased a new stake in shares of Amdocs during the second quarter valued at approximately $28,000. Operose Advisors LLC increased its position in shares of Amdocs by 148.0% during the third quarter. Operose Advisors LLC now owns 310 shares of the technology company’s stock valued at $26,000 after acquiring an additional 185 shares during the last quarter. GeoWealth Management LLC purchased a new stake in shares of Amdocs during the first quarter valued at approximately $80,000. Allworth Financial LP increased its position in shares of Amdocs by 16,840.0% during the third quarter. Allworth Financial LP now owns 847 shares of the technology company’s stock valued at $72,000 after acquiring an additional 842 shares during the last quarter. Finally, Zions Bancorporation N.A. purchased a new stake in shares of Amdocs during the first quarter valued at approximately $83,000. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Stock Performance

Amdocs stock traded up $0.29 during trading on Wednesday, reaching $89.72. The company had a trading volume of 20,196 shares, compared to its average volume of 673,362. Amdocs Limited has a 52 week low of $78.38 and a 52 week high of $99.75. The firm’s 50-day simple moving average is $91.37 and its 200 day simple moving average is $87.17. The firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 1.47 and a beta of 0.69. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOXGet Free Report) last issued its earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.16. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the previous year, the firm posted $1.33 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. Sell-side analysts forecast that Amdocs Limited will post 5.87 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, March 29th will be given a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from Amdocs’s previous quarterly dividend of $0.44. Amdocs’s payout ratio is 41.11%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on DOX shares. Citigroup raised their target price on Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Barclays lifted their price objective on Amdocs from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Finally, StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 15th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Amdocs has an average rating of “Buy” and an average target price of $108.60.

Check Out Our Latest Stock Report on Amdocs

Amdocs Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Amdocs (NASDAQ:DOX)

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