Amdocs Limited $DOX Shares Sold by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. has reduced its stake in Amdocs Limited by 30.3%, bringing its holdings down to 19,336 shares valued at approximately $1.77 million.
• Several institutional investors, including Amundi and Alyeska Investment Group, significantly increased their stakes in Amdocs during the same quarter, indicating a mixed investment sentiment.
• Amdocs reported earnings per share (EPS) of $1.72 for the quarter, slightly beating analyst expectations, despite experiencing an 8.4% decline in revenue year-over-year.

Advisors Asset Management Inc. cut its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 30.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,336 shares of the technology company's stock after selling 8,395 shares during the period. Advisors Asset Management Inc.'s holdings in Amdocs were worth $1,769,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of DOX. Tower Research Capital LLC TRC boosted its position in shares of Amdocs by 55.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company's stock worth $50,000 after acquiring an additional 208 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Amdocs by 111.9% in the fourth quarter. Jane Street Group LLC now owns 39,246 shares of the technology company's stock worth $3,341,000 after acquiring an additional 20,723 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Amdocs by 89.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,646 shares of the technology company's stock worth $736,000 after acquiring an additional 4,086 shares during the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of Amdocs in the fourth quarter worth approximately $173,000. Finally, Captrust Financial Advisors boosted its position in shares of Amdocs by 9.3% in the fourth quarter. Captrust Financial Advisors now owns 41,660 shares of the technology company's stock worth $3,547,000 after acquiring an additional 3,550 shares during the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Amdocs Stock Performance

DOX stock traded down $0.05 during trading on Tuesday, hitting $85.75. 695,028 shares of the company's stock traded hands, compared to its average volume of 848,454. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. Amdocs Limited has a 52 week low of $78.61 and a 52 week high of $95.41. The stock has a fifty day moving average price of $87.64 and a two-hundred day moving average price of $88.61. The stock has a market capitalization of $9.68 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 1.56 and a beta of 0.54.

Amdocs (NASDAQ:DOX - Get Free Report) last released its earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share 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 firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the firm earned $1.62 earnings per share. The firm's revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, equities analysts anticipate that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Dividend Announcement

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

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.