AGF Management Ltd. Lowers Stock Position in Amdocs Limited (NASDAQ:DOX)

AGF Management Ltd. cut its stake in shares of Amdocs Limited (NASDAQ:DOX) by 95.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,805 shares of the technology company’s stock after selling 627,319 shares during the period. AGF Management Ltd.’s holdings in Amdocs were worth $2,352,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Pzena Investment Management LLC grew its stake in shares of Amdocs by 33.2% during the 2nd quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock valued at $447,287,000 after buying an additional 1,412,826 shares during the period. LSV Asset Management grew its stake in shares of Amdocs by 7.9% during the 2nd quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock valued at $253,109,000 after buying an additional 234,096 shares during the period. Vanguard Group Inc. grew its stake in shares of Amdocs by 39.5% during the 1st quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock valued at $183,771,000 after buying an additional 576,168 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Amdocs by 5.0% during the 4th 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. Finally, Brandes Investment Partners LP grew 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 valued at $123,279,000 after buying an additional 254,304 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Stock Up 1.7 %

Shares of Amdocs stock opened at $86.49 on Friday. The company has a fifty day moving average price of $84.08 and a 200 day moving average price of $84.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $94.04. The stock has a market cap of $10.17 billion, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 1.52 and a beta of 0.74.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data 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. The company had revenue of $1.25 billion during 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% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 EPS. Equities research analysts forecast that Amdocs Limited will post 5.67 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be given a $0.479 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.92 dividend on an annualized basis and a yield of 2.22%. Amdocs’s payout ratio is currently 43.15%.

Wall Street Analyst Weigh In

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