Commonwealth Equity Services LLC Lowers Holdings in Amdocs Limited (NASDAQ:DOX)

Commonwealth Equity Services LLC reduced its position in shares of Amdocs Limited (NASDAQ:DOX) by 11.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,818 shares of the technology company’s stock after selling 477 shares during the period. Commonwealth Equity Services LLC’s holdings in Amdocs were worth $301,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of DOX. Wasatch Advisors LP purchased a new position in Amdocs in the first quarter valued at $1,943,000. Royal London Asset Management Ltd. boosted its holdings in Amdocs by 1.9% in the fourth quarter. Royal London Asset Management Ltd. now owns 64,632 shares of the technology company’s stock valued at $5,681,000 after purchasing an additional 1,217 shares during the period. Running Oak Capital LLC boosted its holdings in Amdocs by 15.0% in the first quarter. Running Oak Capital LLC now owns 108,734 shares of the technology company’s stock valued at $9,826,000 after purchasing an additional 14,205 shares during the period. State Board of Administration of Florida Retirement System raised its stake in Amdocs by 7.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 166,927 shares of the technology company’s stock valued at $16,030,000 after buying an additional 12,178 shares in the last quarter. Finally, Boston Trust Walden Corp raised its stake in Amdocs by 17.0% in the second quarter. Boston Trust Walden Corp now owns 618,387 shares of the technology company’s stock valued at $48,803,000 after buying an additional 89,726 shares in the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Stock Up 0.3 %

DOX opened at $86.47 on Tuesday. The business’s 50-day simple moving average is $84.95 and its 200-day simple moving average is $83.92. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24. Amdocs Limited has a one year low of $74.41 and a one year high of $94.04. The stock has a market capitalization of $10.16 billion, a P/E ratio of 19.43, a price-to-earnings-growth ratio of 1.52 and a beta of 0.74.

Amdocs (NASDAQ:DOX) last posted its earnings results on Wednesday, August 7th. The technology company reported $1.62 EPS for the quarter, topping 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 business 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 firm earned $1.41 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year. Analysts anticipate that Amdocs Limited will post 5.67 EPS for the current year.

Amdocs Dividend Announcement

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 dividend of $0.479 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Monday, September 30th. Amdocs’s dividend payout ratio is presently 42.92%.

Analyst Ratings Changes

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

Amdocs 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.