Dimensional Fund Advisors LP Sells 49,217 Shares of Amdocs Limited (NASDAQ:DOX)

Dimensional Fund Advisors LP lowered its position in Amdocs Limited (NASDAQ:DOX) by 2.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,027,833 shares of the technology company’s stock after selling 49,217 shares during the quarter. Dimensional Fund Advisors LP owned about 1.73% of Amdocs worth $160,034,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Inspire Advisors LLC grew its position in Amdocs by 124.1% in the second quarter. Inspire Advisors LLC now owns 5,962 shares of the technology company’s stock worth $471,000 after acquiring an additional 3,301 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Amdocs by 6.7% in the second quarter. Envestnet Asset Management Inc. now owns 469,946 shares of the technology company’s stock worth $37,088,000 after acquiring an additional 29,560 shares in the last quarter. William Blair Investment Management LLC grew its position in Amdocs by 12.2% in the second quarter. William Blair Investment Management LLC now owns 5,603 shares of the technology company’s stock worth $442,000 after acquiring an additional 610 shares in the last quarter. Valley Wealth Managers Inc. grew its position in Amdocs by 7.0% in the second quarter. Valley Wealth Managers Inc. now owns 268,783 shares of the technology company’s stock worth $21,212,000 after acquiring an additional 17,507 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its position in Amdocs by 8.1% in the second quarter. GHP Investment Advisors Inc. now owns 100,933 shares of the technology company’s stock worth $7,966,000 after acquiring an additional 7,583 shares in the last quarter. Institutional investors own 92.02% of the company’s stock.

Amdocs Stock Performance

NASDAQ DOX opened at $86.21 on Friday. The company has a 50-day simple moving average of $84.84 and a two-hundred day simple moving average of $84.07. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $94.04. The firm has a market cap of $10.13 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.52 and a beta of 0.74.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.02. Amdocs had a net margin of 10.21% and a return on equity of 17.89%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the business posted $1.41 earnings per share. The company’s revenue was up 1.1% on a year-over-year basis. On average, equities analysts forecast that Amdocs Limited will post 5.67 EPS for the current year.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be given a dividend of $0.479 per share. The ex-dividend date is Monday, September 30th. This represents a $1.92 annualized dividend and a yield of 2.22%. Amdocs’s payout ratio is 42.92%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 13th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amdocs currently has a consensus rating of “Buy” and a consensus target price of $102.50.

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.