CANADA LIFE ASSURANCE Co Has $3.67 Million Position in Amdocs Limited (NASDAQ:DOX)

CANADA LIFE ASSURANCE Co lessened its holdings in Amdocs Limited (NASDAQ:DOX) by 1.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 43,077 shares of the technology company’s stock after selling 822 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Amdocs were worth $3,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Pzena Investment Management LLC increased its stake in Amdocs by 4.3% in the fourth quarter. Pzena Investment Management LLC now owns 6,634,549 shares of the technology company’s stock valued at $564,866,000 after acquiring an additional 270,810 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Amdocs by 2.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,263,591 shares of the technology company’s stock valued at $274,681,000 after purchasing an additional 87,801 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Amdocs by 16.1% in the 4th quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company’s stock valued at $261,756,000 after purchasing an additional 426,035 shares during the period. Wellington Management Group LLP raised its holdings in shares of Amdocs by 25.4% in the 4th quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company’s stock worth $228,211,000 after buying an additional 543,490 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Amdocs by 7.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock worth $154,587,000 after buying an additional 125,654 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Stock Performance

NASDAQ DOX opened at $86.01 on Friday. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $93.34. The company has a 50 day moving average of $87.07 and a 200-day moving average of $87.02. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. The firm has a market cap of $9.71 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.47 and a beta of 0.59.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings data 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, equities analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 31st were given a dividend of $0.527 per share. This is an increase from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 2.45%. Amdocs’s dividend payout ratio is 48.72%.

Analyst Ratings Changes

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

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.