17,102 Shares in Amdocs Limited $DOX Bought by Sage Private Wealth Group LLC

Key Points

• Sage Private Wealth Group LLC acquired 17,102 Amdocs shares worth approximately $978,000 during the third quarter. Institutional investors and hedge funds collectively own 92.02% of the company.
• Amdocs has a consensus analyst rating of “Hold”, with three Buy, two Hold, and two Sell ratings and an average price target of $86.67.
• The company reported quarterly revenue of $1.17 billion and adjusted earnings of $1.84 per share, while declaring a quarterly dividend of $0.569, equivalent to a 3.7% annualized yield.

Sage Private Wealth Group LLC acquired a new stake in Amdocs Limited (NASDAQ:DOX - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 17,102 shares of the technology company's stock, valued at approximately $978,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in Amdocs by 16.4% during the third quarter. Farther Finance Advisors LLC now owns 1,292 shares of the technology company's stock worth $74,000 after purchasing an additional 182 shares during the period. Alpine Bank Wealth Management grew its holdings in Amdocs by 58.2% during the third quarter. Alpine Bank Wealth Management now owns 500 shares of the technology company's stock valued at $29,000 after purchasing an additional 184 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Amdocs by 3.5% in the first quarter. Sequoia Financial Advisors LLC now owns 6,443 shares of the technology company's stock valued at $420,000 after purchasing an additional 218 shares during the period. Fulton Bank N.A. raised its position in shares of Amdocs by 8.5% in the second quarter. Fulton Bank N.A. now owns 4,667 shares of the technology company's stock valued at $236,000 after purchasing an additional 367 shares during the period. Finally, Burney Co. raised its position in shares of Amdocs by 3.5% in the first quarter. Burney Co. now owns 15,317 shares of the technology company's stock valued at $1,000,000 after purchasing an additional 519 shares during the period. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DOX has been the subject of a number of analyst reports. Weiss Ratings cut shares of Amdocs from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, October 8th. KeyCorp began coverage on shares of Amdocs in a research note on Monday, June 29th. They issued a "sector weight" rating on the stock. Finally, Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a research note on Saturday, August 29th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Amdocs has a consensus rating of "Hold" and an average price target of $86.67.

Amdocs Price Performance

NASDAQ DOX opened at $61.60 on Thursday. Amdocs Limited has a twelve month low of $49.74 and a twelve month high of $85.63. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $6.65 billion, a PE ratio of 14.67, a P/E/G ratio of 0.98 and a beta of 0.44. The stock has a 50-day simple moving average of $60.14 and a 200 day simple moving average of $59.14.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its earnings results on Thursday, August 6th. The technology company reported $1.84 earnings per share for the quarter, meeting the consensus estimate of $1.84. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. Amdocs had a return on equity of 20.28% and a net margin of 9.75%. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.72 EPS. Research analysts anticipate that Amdocs Limited will post 6.56 EPS for the current year.

Amdocs Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a $0.5690 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, September 30th. Amdocs's dividend payout ratio is currently 54.05%.

About Amdocs

Amdocs Ltd. NASDAQ: DOX is a global provider of software and technology services for communications, media and entertainment companies. Its solutions help service providers manage customer relationships, billing, subscriptions, product offerings and digital experiences across consumer and enterprise markets.

The company's portfolio includes business support systems and operational support systems, cloud-based software, artificial intelligence and automation tools, network and service management platforms, and solutions for media distribution and monetization.

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