Advisors Asset Management Inc. Lowers Stock Position in Amdocs Limited $DOX

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. LSV Asset Management boosted its holdings in shares of 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 buying an additional 317,412 shares during the last quarter. Alyeska Investment Group L.P. raised its stake in Amdocs by 38.6% in the 1st 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 period. American Century Companies Inc. raised 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 valued at $205,219,000 after acquiring an additional 426,911 shares during the period. Dimensional Fund Advisors LP raised its stake in Amdocs by 9.4% in the 1st 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 period. Finally, Northern Trust Corp raised its stake in Amdocs by 4.5% in the 1st quarter. Northern Trust Corp now owns 920,723 shares of the technology company's stock valued at $84,246,000 after acquiring an additional 39,915 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Price Performance

Shares of Amdocs stock traded down $0.12 on Friday, reaching $85.21. The stock had a trading volume of 142,954 shares, compared to its average volume of 726,382. Amdocs Limited has a 1 year low of $78.61 and a 1 year high of $95.41. The company has a market cap of $9.62 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 1.53 and a beta of 0.54. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23. The business's 50 day moving average is $87.33 and its two-hundred day moving average is $88.56.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the firm posted $1.62 earnings per share. The company's revenue for the quarter was down 8.4% on a year-over-year basis. As a group, research analysts anticipate that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Announces Dividend

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 $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Amdocs's dividend payout ratio is presently 42.60%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DOX. Wall Street Zen upgraded Amdocs from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Wolfe Research began coverage on Amdocs in a research note on Tuesday, July 8th. They issued an "outperform" rating on the stock. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $105.33.

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.