Cubist Systematic Strategies LLC Reduces Position in Amdocs Limited (NASDAQ:DOX)

Cubist Systematic Strategies LLC lowered its holdings in Amdocs Limited (NASDAQ:DOX) by 85.0% in the second quarter, HoldingsChannel reports. The firm owned 9,930 shares of the technology company’s stock after selling 56,361 shares during the period. Cubist Systematic Strategies LLC’s holdings in Amdocs were worth $784,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Pzena Investment Management LLC grew its position in shares of Amdocs by 33.2% during the second quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock worth $447,287,000 after buying an additional 1,412,826 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Amdocs by 39.5% in the 1st quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock worth $183,771,000 after purchasing an additional 576,168 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Amdocs by 36.2% in the 2nd quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company’s stock valued at $132,253,000 after purchasing an additional 444,966 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Amdocs by 22.7% during the first quarter. Acadian Asset Management LLC now owns 1,395,894 shares of the technology company’s stock worth $126,119,000 after purchasing an additional 258,343 shares during the last quarter. Finally, LSV Asset Management grew its stake in Amdocs by 7.9% in the second quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock worth $253,109,000 after purchasing an additional 234,096 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Stock Up 0.1 %

NASDAQ:DOX opened at $88.16 on Friday. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $85.57 and a 200-day moving average of $83.73. The firm has a market capitalization of $10.36 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 1.54 and a beta of 0.74.

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

Amdocs Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be paid a $0.479 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.92 annualized dividend and a dividend yield of 2.17%. Amdocs’s payout ratio is 42.92%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DOX. StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Stifel Nicolaus initiated coverage on shares of Amdocs in a report on Wednesday. They issued a “buy” rating and a $100.00 price objective for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Amdocs has an average rating of “Moderate Buy” and a consensus price target of $102.00.

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.