California Public Employees Retirement System Has $62.02 Million Stake in Amdocs Limited (NASDAQ:DOX)

California Public Employees Retirement System trimmed its position in shares of Amdocs Limited (NASDAQ:DOX) by 0.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 705,609 shares of the technology company’s stock after selling 1,342 shares during the period. California Public Employees Retirement System’s holdings in Amdocs were worth $62,016,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of DOX. Wedge Capital Management L L P NC lifted its holdings in shares of Amdocs by 9.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 917,808 shares of the technology company’s stock worth $80,666,000 after acquiring an additional 77,833 shares during the last quarter. Foster & Motley Inc. lifted its holdings in shares of Amdocs by 3.5% in the fourth quarter. Foster & Motley Inc. now owns 26,143 shares of the technology company’s stock worth $2,298,000 after acquiring an additional 884 shares during the last quarter. Duality Advisers LP lifted its holdings in shares of Amdocs by 46.1% in the fourth quarter. Duality Advisers LP now owns 10,022 shares of the technology company’s stock worth $881,000 after acquiring an additional 3,162 shares during the last quarter. OLD National Bancorp IN bought a new position in shares of Amdocs in the fourth quarter worth about $254,000. Finally, Verdence Capital Advisors LLC bought a new position in shares of Amdocs in the fourth quarter worth about $298,000. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Amdocs Stock Down 1.3 %

Amdocs stock opened at $85.64 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.29 and a current ratio of 1.29. Amdocs Limited has a 52-week low of $78.38 and a 52-week high of $99.75. The firm has a 50 day moving average price of $89.75 and a two-hundred day moving average price of $87.31. The firm has a market cap of $10.07 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 1.41 and a beta of 0.69.

Amdocs (NASDAQ:DOX) last released its quarterly 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 net margin of 11.30% and a return on equity of 17.79%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the business earned $1.33 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. Equities analysts predict that Amdocs Limited will post 5.87 EPS for the current year.

Amdocs Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, March 29th will be given a dividend of $0.479 per share. This is an increase from Amdocs’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.92 annualized dividend and a dividend yield of 2.24%. Amdocs’s dividend payout ratio (DPR) is 41.11%.

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.