Amdocs Limited $DOX Position Trimmed by Corient Private Wealth LP

Corient Private Wealth LP decreased its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 32.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,071 shares of the technology company's stock after selling 19,348 shares during the period. Corient Private Wealth LP's holdings in Amdocs were worth $2,025,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in DOX. Pzena Investment Management LLC grew its position in Amdocs by 5.4% during the first quarter. Pzena Investment Management LLC now owns 12,681,089 shares of the technology company's stock valued at $827,568,000 after purchasing an additional 644,074 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Amdocs by 19.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,463,797 shares of the technology company's stock worth $226,045,000 after acquiring an additional 571,036 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of Amdocs in the fourth quarter worth $25,506,000. Bank of America Corp DE raised its holdings in shares of Amdocs by 29.1% during the first quarter. Bank of America Corp DE now owns 1,262,263 shares of the technology company's stock worth $82,375,000 after acquiring an additional 284,435 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Amdocs by 429.6% during the first quarter. Renaissance Technologies LLC now owns 291,800 shares of the technology company's stock valued at $19,043,000 after purchasing an additional 236,700 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Stock Down 0.7%

NASDAQ DOX opened at $58.36 on Thursday. The stock's 50 day moving average is $58.52 and its two-hundred day moving average is $60.12. Amdocs Limited has a 1-year low of $49.74 and a 1-year high of $85.63. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.02 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its earnings results on Thursday, August 6th. The technology company reported $1.84 earnings per share for the quarter, hitting the consensus estimate of $1.84. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. Amdocs had a net margin of 9.75% and a return on equity of 20.28%. The firm's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.72 EPS. Equities analysts forecast that Amdocs Limited will post 6.56 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a dividend of $0.569 per share. The ex-dividend date is Wednesday, September 30th. This represents a $2.28 dividend on an annualized basis and a yield of 3.9%. Amdocs's dividend payout ratio is 54.29%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Amdocs in a research note on Wednesday, August 5th. Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a research note on Saturday, August 29th. Finally, KeyCorp began coverage on Amdocs in a report on Monday, June 29th. They set a "sector weight" rating on the stock. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $86.67.

Amdocs Company Profile

Amdocs Limited NASDAQ: DOX is a global provider of software and technology services for communications, media and entertainment companies. Its solutions help service providers manage customer relationships, product offerings, billing, ordering, network operations and digital experiences.

The company offers cloud-based and software-as-a-service platforms spanning business and operational support systems, customer experience management, monetization, network automation, data and artificial intelligence.

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