Beutel Goodman & Co Ltd. Lowers Stake in Amdocs Limited (NASDAQ:DOX)

Beutel Goodman & Co Ltd. decreased its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 0.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,984,681 shares of the technology company’s stock after selling 6,391 shares during the period. Amdocs comprises 2.3% of Beutel Goodman & Co Ltd.’s portfolio, making the stock its 8th biggest holding. Beutel Goodman & Co Ltd. owned about 4.42% of Amdocs worth $424,395,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Private Trust Co. NA lifted its holdings in Amdocs by 62.9% during the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after purchasing an additional 117 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Amdocs in the third quarter valued at approximately $28,000. Jones Financial Companies Lllp acquired a new position in shares of Amdocs in the 4th quarter worth approximately $36,000. SBI Securities Co. Ltd. acquired a new position in shares of Amdocs in the 4th quarter worth approximately $41,000. Finally, Global Retirement Partners LLC grew its position in Amdocs by 45.6% during the 4th quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock worth $48,000 after acquiring an additional 175 shares during the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $101.20.

Amdocs Stock Down 1.2 %

NASDAQ:DOX opened at $90.95 on Friday. The company has a market cap of $10.27 billion, a price-to-earnings ratio of 21.10, a P/E/G ratio of 1.47 and a beta of 0.68. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. The stock’s fifty day moving average price is $87.89 and its two-hundred day moving average price is $87.33. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $93.34.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. On average, analysts anticipate that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be given a dividend of $0.527 per share. This is a positive change from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, March 31st. Amdocs’s payout ratio is presently 48.72%.

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.