Cetera Investment Advisers Lowers Stock Position in Amdocs Limited (NASDAQ:DOX)

Cetera Investment Advisers reduced its stake in Amdocs Limited (NASDAQ:DOX) by 6.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,488 shares of the technology company’s stock after selling 3,595 shares during the quarter. Cetera Investment Advisers’ holdings in Amdocs were worth $4,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Pzena Investment Management LLC raised its stake 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 acquiring an additional 1,412,826 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Amdocs by 39.5% during the first quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock worth $183,771,000 after acquiring an additional 576,168 shares in the last quarter. Brandes Investment Partners LP raised its stake in shares of Amdocs by 31.1% during the second quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock worth $178,335,000 after acquiring an additional 536,359 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Amdocs by 36.2% during the second quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company’s stock worth $132,253,000 after acquiring an additional 444,966 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake 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 acquiring an additional 258,343 shares in the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Stifel Nicolaus assumed coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 target price on the stock. StockNews.com raised shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $102.00.

Amdocs Stock Up 0.9 %

Shares of NASDAQ DOX opened at $88.12 on Thursday. The company has a market cap of $10.36 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 1.54 and a beta of 0.74. The firm’s fifty day moving average is $85.60 and its 200 day moving average is $83.54. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. 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 (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 the consensus estimate of $1.60 by $0.02. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Amdocs had a net margin of 10.21% and a return on equity of 17.89%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 earnings per share. On average, equities research analysts expect that Amdocs Limited will post 5.67 earnings per share for the current year.

Amdocs Announces Dividend

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

Amdocs Company Profile

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.