Lazard Asset Management LLC Sells 9,754 Shares of Amdocs Limited (NASDAQ:DOX)

Lazard Asset Management LLC lowered its stake in shares of Amdocs Limited (NASDAQ:DOX) by 6.5% during the 1st quarter, HoldingsChannel reports. The fund owned 141,256 shares of the technology company’s stock after selling 9,754 shares during the period. Lazard Asset Management LLC’s holdings in Amdocs were worth $12,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. New York State Teachers Retirement System increased its holdings in Amdocs by 1.3% during the 1st quarter. New York State Teachers Retirement System now owns 10,719 shares of the technology company’s stock worth $969,000 after acquiring an additional 141 shares during the period. First Affirmative Financial Network increased its holdings in shares of Amdocs by 5.4% in the first quarter. First Affirmative Financial Network now owns 3,085 shares of the technology company’s stock worth $279,000 after purchasing an additional 157 shares during the period. Atlas Capital Advisors LLC grew its position in Amdocs by 6.5% during the first quarter. Atlas Capital Advisors LLC now owns 2,640 shares of the technology company’s stock worth $239,000 after buying an additional 160 shares in the last quarter. True Wealth Design LLC increased its stake in Amdocs by 2.0% in the 4th quarter. True Wealth Design LLC now owns 8,626 shares of the technology company’s stock worth $758,000 after acquiring an additional 170 shares during the last quarter. Finally, William Blair Investment Management LLC raised its holdings in shares of Amdocs by 4.0% in the 1st quarter. William Blair Investment Management LLC now owns 4,993 shares of the technology company’s stock valued at $451,000 after acquiring an additional 191 shares in the last quarter. 92.02% of the stock is owned by institutional investors.

Amdocs Trading Up 2.4 %

Shares of DOX traded up $2.01 during mid-day trading on Friday, reaching $86.92. The company’s stock had a trading volume of 844,071 shares, compared to its average volume of 673,001. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $96.24. The stock has a market cap of $10.22 billion, a PE ratio of 19.53, a P/E/G ratio of 1.53 and a beta of 0.74. The company’s fifty day moving average price is $79.36 and its two-hundred day moving average price is $85.74. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.21.

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

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 given a dividend of $0.479 per share. The ex-dividend date was Friday, June 28th. This represents a $1.92 annualized dividend and a yield of 2.20%. Amdocs’s payout ratio is 43.15%.

Wall Street Analysts Forecast Growth

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

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.