Lazard Asset Management LLC decreased its position in Amdocs Limited (NASDAQ:DOX – Free Report) by 6.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 141,256 shares of the technology company’s stock after selling 9,754 shares during the period. Lazard Asset Management LLC owned approximately 0.12% of Amdocs worth $12,764,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. GAMMA Investing LLC bought a new stake in shares of Amdocs during the fourth quarter worth $25,000. Oakworth Capital Inc. bought a new position in Amdocs during the 4th quarter worth about $26,000. Norwood Financial Corp bought a new stake in shares of Amdocs in the first quarter valued at about $33,000. Central Pacific Bank Trust Division bought a new stake in shares of Amdocs in the first quarter valued at about $53,000. Finally, Riverview Trust Co acquired a new position in shares of Amdocs during the first quarter worth about $55,000. Institutional investors own 92.02% of the company’s stock.
Amdocs Stock Up 2.4 %
Shares of NASDAQ:DOX traded up $2.01 during midday trading on Friday, hitting $86.92. The stock had a trading volume of 844,071 shares, compared to its average volume of 673,001. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.21. The business’s 50-day simple moving average is $79.36 and its 200-day simple moving average is $85.74. Amdocs Limited has a 12 month low of $74.41 and a 12 month high of $96.24. The company has a market cap of $10.22 billion, a P/E ratio of 19.53, a PEG ratio of 1.53 and a beta of 0.74.
Amdocs Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, June 28th were paid a $0.479 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.92 dividend on an annualized basis and a yield of 2.20%. Amdocs’s dividend payout ratio (DPR) is currently 43.15%.
Analyst Ratings Changes
Several research firms have commented on DOX. Citigroup cut their target price on Amdocs from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Robert W. Baird decreased their target price on shares of Amdocs from $97.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Amdocs currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.80.
Check Out Our Latest Research Report on DOX
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.
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