Denali Advisors LLC Sells 298 Shares of Amdocs Limited (NASDAQ:DOX)

Denali Advisors LLC lowered its stake in shares of Amdocs Limited (NASDAQ:DOX) by 4.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,911 shares of the technology company’s stock after selling 298 shares during the quarter. Denali Advisors LLC’s holdings in Amdocs were worth $625,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of DOX. Pzena Investment Management LLC raised its stake in shares of Amdocs by 4.8% in the fourth quarter. Pzena Investment Management LLC now owns 4,239,513 shares of the technology company’s stock valued at $372,611,000 after acquiring an additional 195,626 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Amdocs by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,007,777 shares of the technology company’s stock valued at $176,464,000 after buying an additional 94,856 shares during the period. American Century Companies Inc. grew its stake in shares of Amdocs by 6.2% during the third quarter. American Century Companies Inc. now owns 1,980,219 shares of the technology company’s stock valued at $167,309,000 after buying an additional 115,744 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Amdocs by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,457,368 shares of the technology company’s stock worth $128,088,000 after buying an additional 20,283 shares during the period. Finally, Brandes Investment Partners LP lifted its stake in shares of Amdocs by 22.1% during the 4th quarter. Brandes Investment Partners LP now owns 1,402,646 shares of the technology company’s stock worth $123,279,000 after acquiring an additional 254,304 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Amdocs Stock Down 1.6 %

Shares of NASDAQ DOX opened at $78.13 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market capitalization of $9.18 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 1.40 and a beta of 0.74. The stock has a 50 day moving average price of $80.08 and a 200 day moving average price of $86.48. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $98.55.

Amdocs (NASDAQ:DOX) last posted its earnings results on Wednesday, May 8th. The technology company reported $1.38 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.05). The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Amdocs had a return on equity of 17.85% and a net margin of 10.62%. Sell-side analysts expect that Amdocs Limited will post 5.72 earnings per share for the current year.

Amdocs Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be issued a $0.479 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, June 28th. Amdocs’s dividend payout ratio (DPR) is currently 43.15%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. Robert W. Baird lowered their price objective on shares of Amdocs from $97.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Finally, Citigroup dropped their target price on shares of Amdocs from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.80.

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.