AE Wealth Management LLC Sells 4,275 Shares of Amdocs Limited (NASDAQ:DOX)

AE Wealth Management LLC lessened its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 52.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,919 shares of the technology company's stock after selling 4,275 shares during the quarter. AE Wealth Management LLC's holdings in Amdocs were worth $359,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Planning Group LLC bought a new stake in shares of Amdocs in the first quarter worth $27,000. AdvisorNet Financial Inc boosted its position in Amdocs by 382.9% during the first quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock valued at $31,000 after acquiring an additional 268 shares during the last quarter. NBC Securities Inc. bought a new stake in Amdocs during the first quarter valued at $31,000. Cullen Frost Bankers Inc. bought a new stake in Amdocs during the first quarter valued at $39,000. Finally, Tower Research Capital LLC TRC boosted its position in Amdocs by 55.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company's stock valued at $50,000 after acquiring an additional 208 shares during the last quarter. Institutional investors own 92.02% of the company's stock.

Analyst Upgrades and Downgrades

DOX has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Amdocs from a "buy" rating to a "hold" rating in a research report on Saturday. Wolfe Research initiated coverage on shares of Amdocs in a research report on Tuesday, July 8th. They set an "outperform" rating on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $105.33.

Amdocs Stock Down 1.0%

Shares of DOX stock traded down $0.87 on Friday, reaching $84.49. 1,027,433 shares of the company were exchanged, compared to its average volume of 664,733. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.16 and a quick ratio of 1.16. Amdocs Limited has a one year low of $78.61 and a one year high of $95.41. The company has a market cap of $9.54 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.41 and a beta of 0.52. The company has a 50-day moving average of $90.67 and a 200-day moving average of $88.65.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.71 by $0.07. Amdocs had a net margin of 11.39% and a return on equity of 19.52%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the business posted $1.56 EPS. The firm's revenue was down 9.4% compared to the same quarter last year. Analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, June 30th were given a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, June 30th. Amdocs's dividend payout ratio is currently 44.21%.

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.