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 lowered its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 14.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 502,499 shares of the technology company's stock after selling 84,827 shares during the quarter. Acadian Asset Management LLC owned approximately 0.45% of Amdocs worth $45,970,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in DOX. Alyeska Investment Group L.P. lifted its position in shares of Amdocs by 38.6% during the first quarter. Alyeska Investment Group L.P. now owns 2,329,767 shares of the technology company's stock worth $213,174,000 after purchasing an additional 648,693 shares during the last quarter. American Century Companies Inc. boosted its stake in Amdocs by 23.5% in the 1st quarter. American Century Companies Inc. now owns 2,242,829 shares of the technology company's stock worth $205,219,000 after purchasing an additional 426,911 shares during the period. Nuveen LLC bought a new position in shares of Amdocs during the 1st quarter valued at $36,921,000. LSV Asset Management raised its holdings in Amdocs by 11.1% in the 1st quarter. LSV Asset Management now owns 3,180,501 shares of the technology company's stock worth $291,016,000 after acquiring an additional 317,412 shares during the period. Finally, AQR Capital Management LLC grew its position in Amdocs by 43.0% in the 1st quarter. AQR Capital Management LLC now owns 955,158 shares of the technology company's stock worth $86,719,000 after purchasing an additional 287,243 shares during the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of Amdocs from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Wolfe Research began coverage on shares of Amdocs in a report on Tuesday, July 8th. They set an "outperform" rating on the stock. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $105.33.

Amdocs Trading Down 0.4%

Shares of NASDAQ DOX traded down $0.33 during mid-day trading on Friday, hitting $85.00. The stock had a trading volume of 555,419 shares, compared to its average volume of 810,267. 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 business has a 50 day moving average price of $87.18 and a two-hundred day moving average price of $88.54. The firm has a market cap of $9.60 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 1.56 and a beta of 0.54. Amdocs Limited has a 1 year low of $78.61 and a 1 year high of $95.41.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.01. Amdocs had a net margin of 11.94% and a return on equity of 19.66%. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the prior year, the business earned $1.62 EPS. The business's revenue for the quarter was down 8.4% compared to the same quarter last year. On average, equities analysts anticipate that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 is Tuesday, September 30th. Amdocs's dividend payout ratio is presently 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.