Alliancebernstein L.P. Reduces Stock Position in Amdocs Limited $DOX

Key Points

• Alliancebernstein L.P. reduced its stake in Amdocs Limited by 17.4%, now holding about 1,884,110 shares valued at approximately $172.40 million as of their latest SEC filing.
• Amdocs recently reported a quarterly earnings of $1.72 per share, exceeding estimates, with a revenue of $1.14 billion, although it represented an 8.4% decline year-over-year.
• The company announced a $0.527 quarterly dividend, contributing to an annualized yield of 2.5%, with an ex-dividend date set for September 30th.

Alliancebernstein L.P. trimmed its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 17.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,884,110 shares of the technology company's stock after selling 397,336 shares during the period. Alliancebernstein L.P. owned 1.67% of Amdocs worth $172,396,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC bought a new position in shares of Amdocs in the 1st quarter worth $27,000. AdvisorNet Financial Inc raised its position in shares of Amdocs by 382.9% in the 1st quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock worth $31,000 after acquiring an additional 268 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Amdocs in the 1st quarter worth $31,000. Quarry LP raised its position in shares of Amdocs by 42.2% in the 1st quarter. Quarry LP now owns 391 shares of the technology company's stock worth $36,000 after acquiring an additional 116 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in Amdocs during the 1st quarter valued at about $39,000. 92.02% of the stock is owned by institutional investors.

Amdocs Stock Performance

Amdocs stock traded down $1.83 during trading hours on Wednesday, hitting $83.93. 110,337 shares of the stock traded hands, compared to its average volume of 728,384. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. The firm's 50 day moving average price is $87.64 and its 200-day moving average price is $88.61. The stock has a market capitalization of $9.47 billion, a price-to-earnings ratio of 17.03, a P/E/G 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 quarterly 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. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Amdocs had a return on equity of 19.66% and a net margin of 11.94%.The company's quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.62 EPS. As a group, equities analysts expect that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Announces Dividend

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

Wall Street Analysts Forecast Growth

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