Fulton Bank N.A. Sells 409 Shares of Amdocs Limited (NASDAQ:DOX)

Fulton Bank N.A. reduced its position in shares of Amdocs Limited (NASDAQ:DOX) by 8.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,236 shares of the technology company’s stock after selling 409 shares during the quarter. Fulton Bank N.A.’s holdings in Amdocs were worth $383,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Alaska Permanent Fund Corp increased its holdings in shares of Amdocs by 2.2% in the 1st quarter. Alaska Permanent Fund Corp now owns 150,826 shares of the technology company’s stock worth $13,630,000 after purchasing an additional 3,265 shares in the last quarter. Symmetry Partners LLC bought a new stake in Amdocs in the 1st quarter worth about $284,000. Quadrature Capital Ltd purchased a new position in Amdocs in the 4th quarter worth about $427,000. B. Riley Wealth Advisors Inc. bought a new position in Amdocs during the 4th quarter valued at about $244,000. Finally, Vanguard Group Inc. lifted its stake in Amdocs by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 1,457,368 shares of the technology company’s stock valued at $128,088,000 after acquiring an additional 20,283 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on DOX shares. Citigroup decreased their price objective on shares of Amdocs from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, May 9th. StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 15th. Finally, Robert W. Baird lowered their price target on Amdocs from $97.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $103.80.

Amdocs Stock Performance

Shares of NASDAQ DOX opened at $78.48 on Friday. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $99.75. The firm has a market capitalization of $9.22 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 1.35 and a beta of 0.74. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $81.22 and a 200 day moving average of $86.88.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings data on Wednesday, May 8th. The technology company reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.05). Amdocs had a net margin of 10.62% and a return on equity of 17.85%. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.25 billion. On average, research analysts anticipate that Amdocs Limited will post 5.72 earnings per share for the current year.

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be given a dividend of $0.479 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.44%. Amdocs’s payout ratio is currently 43.15%.

Amdocs Profile

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.