Marks Group Wealth Management Inc Sells 9,043 Shares of Amdocs Limited $DOX

Marks Group Wealth Management Inc reduced its stake in shares of Amdocs Limited (NASDAQ:DOX) by 10.0% during the 4th quarter, HoldingsChannel reports. The fund owned 81,237 shares of the technology company’s stock after selling 9,043 shares during the period. Marks Group Wealth Management Inc’s holdings in Amdocs were worth $6,540,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. WealthCollab LLC increased its stake in Amdocs by 94.5% during the third quarter. WealthCollab LLC now owns 356 shares of the technology company’s stock worth $29,000 after acquiring an additional 173 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in Amdocs during the third quarter worth approximately $37,000. BOK Financial Private Wealth Inc. bought a new stake in Amdocs during the fourth quarter worth approximately $37,000. Abich Financial Wealth Management LLC bought a new stake in Amdocs during the third quarter worth approximately $39,000. Finally, Los Angeles Capital Management LLC bought a new stake in Amdocs during the fourth quarter worth approximately $39,000. 92.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DOX. Wall Street Zen cut Amdocs from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Cfra cut Amdocs to a “sell” rating in a research note on Thursday, May 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Amdocs in a research report on Friday, May 8th. Finally, Stifel Nicolaus dropped their target price on Amdocs from $88.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Amdocs has an average rating of “Hold” and a consensus target price of $86.67.

Amdocs Stock Down 2.9%

Shares of NASDAQ:DOX opened at $58.34 on Tuesday. Amdocs Limited has a 52-week low of $58.21 and a 52-week high of $95.41. The stock has a market cap of $6.30 billion, a P/E ratio of 11.67, a price-to-earnings-growth ratio of 1.04 and a beta of 0.38. The business’s 50 day moving average is $63.82 and its 200 day moving average is $71.24. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.23.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings data on Thursday, May 14th. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.01. Amdocs had a return on equity of 19.77% and a net margin of 11.81%.The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the firm earned $1.78 earnings per share. Amdocs’s revenue was up 3.9% compared to the same quarter last year. Sell-side analysts predict that Amdocs Limited will post 6.56 EPS for the current year.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a $0.569 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.28 annualized dividend and a yield of 3.9%. Amdocs’s dividend payout ratio is 45.60%.

Amdocs Company Profile

Amdocs (NASDAQ: DOX) is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs’ product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra’anana, Israel.