Amdocs Limited $DOX Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC has reduced its stake in Amdocs Limited by 14.4%, lowering its holdings to 502,499 shares valued at approximately $45.97 million.
• Amdocs has announced a quarterly dividend of $0.527 per share, set to be paid on October 31st, which reflects an annual yield of 2.5%.
• The technology company reported a slight earnings beat with $1.72 EPS for the last quarter, although its revenue was down 8.4% year-over-year.

Acadian Asset Management LLC reduced its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 14.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 502,499 shares of the technology company's stock after selling 84,827 shares during the period. Acadian Asset Management LLC owned 0.45% of Amdocs worth $45,970,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. LSV Asset Management lifted its holdings in Amdocs by 11.1% in the first quarter. LSV Asset Management now owns 3,180,501 shares of the technology company's stock valued at $291,016,000 after acquiring an additional 317,412 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in Amdocs by 38.6% in the first quarter. Alyeska Investment Group L.P. now owns 2,329,767 shares of the technology company's stock valued at $213,174,000 after acquiring an additional 648,693 shares during the last quarter. American Century Companies Inc. lifted its holdings in Amdocs by 23.5% in the first quarter. American Century Companies Inc. now owns 2,242,829 shares of the technology company's stock valued at $205,219,000 after acquiring an additional 426,911 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Amdocs by 9.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,120,075 shares of the technology company's stock valued at $193,978,000 after acquiring an additional 182,489 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Amdocs by 43.0% in the first quarter. AQR Capital Management LLC now owns 955,158 shares of the technology company's stock valued at $86,719,000 after acquiring an additional 287,243 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DOX has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Amdocs from a "hold" rating to a "buy" rating in a report on Sunday, August 10th. Wolfe Research began coverage on shares of Amdocs in a research report on Tuesday, July 8th. They set an "outperform" rating for the company. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $105.33.

Amdocs Stock Down 0.2%

Shares of Amdocs stock traded down $0.15 during trading hours on Tuesday, reaching $84.04. 247,821 shares of the company were exchanged, compared to its average volume of 727,537. Amdocs Limited has a 1 year low of $78.61 and a 1 year high of $95.41. The stock's fifty day moving average is $87.03 and its 200 day moving average is $88.52. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $9.49 billion, a PE ratio of 17.05, a PEG ratio of 1.55 and a beta of 0.54.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.72 earnings per share for the quarter, topping analysts' consensus estimates of $1.71 by $0.01. Amdocs had a return on equity of 19.66% and a net margin of 11.94%.The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the company earned $1.62 earnings per share. The company's revenue was down 8.4% on a year-over-year basis. As a group, equities research analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a $0.527 dividend. This represents a $2.11 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Amdocs's dividend payout ratio is 42.80%.

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.