Amdocs Limited $DOX Shares Purchased by First Trust Advisors LP

Key Points

• First Trust Advisors LP increased its Amdocs position by 13.9% in the first quarter, buying 131,197 additional shares and bringing its stake to 1,077,258 shares worth about $70.3 million.
• Amdocs reported better-than-expected quarterly earnings, with EPS of $1.78 topping estimates by a penny and revenue of $1.17 billion matching forecasts; revenue was up 3.9% year over year.
• The company declared a quarterly dividend of $0.569 per share, implying an annualized yield of 4.4%, while analysts currently rate the stock a consensus Hold with an average price target of $86.67.

First Trust Advisors LP boosted its position in Amdocs Limited (NASDAQ:DOX - Free Report) by 13.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,077,258 shares of the technology company's stock after acquiring an additional 131,197 shares during the period. First Trust Advisors LP owned about 1.00% of Amdocs worth $70,302,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of DOX. WealthCollab LLC lifted its stake in shares of Amdocs by 94.5% during the 3rd quarter. WealthCollab LLC now owns 356 shares of the technology company's stock worth $29,000 after purchasing an additional 173 shares during the period. BOK Financial Private Wealth Inc. purchased a new stake in shares of Amdocs in the fourth quarter valued at $37,000. Los Angeles Capital Management LLC purchased a new stake in shares of Amdocs in the fourth quarter valued at $39,000. Advisory Services Network LLC acquired a new position in Amdocs in the third quarter valued at $42,000. Finally, CIBC Private Wealth Group LLC increased its stake in Amdocs by 190.2% in the third quarter. CIBC Private Wealth Group LLC now owns 595 shares of the technology company's stock valued at $49,000 after purchasing an additional 390 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Stock Performance

Shares of NASDAQ:DOX opened at $52.10 on Friday. The business has a 50-day moving average of $55.64 and a two-hundred day moving average of $65.19. The firm has a market capitalization of $5.62 billion, a PE ratio of 10.42, a P/E/G ratio of 0.91 and a beta of 0.41. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98. Amdocs Limited has a 12 month low of $49.74 and a 12 month high of $90.29.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The technology company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.01. Amdocs had a return on equity of 19.77% and a net margin of 11.81%.The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $1.78 EPS. The company's revenue was up 3.9% compared to the same quarter last year. As a group, research analysts forecast that Amdocs Limited will post 6.56 earnings per share for the current year.

Amdocs Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.569 per share. This represents a $2.28 annualized dividend and a yield of 4.4%. The ex-dividend date is Tuesday, June 30th. Amdocs's payout ratio is currently 45.60%.

Analysts Set New Price Targets

A number of brokerages have issued reports on DOX. Wall Street Zen lowered Amdocs from a "buy" rating to a "hold" rating in a research note on Sunday, July 5th. Stifel Nicolaus dropped their price objective on shares of Amdocs from $88.00 to $71.00 and set a "buy" rating for the company in a research note on Thursday, May 14th. Cfra lowered shares of Amdocs to a "sell" rating in a report on Thursday, May 14th. KeyCorp started coverage on shares of Amdocs in a research report on Monday, June 29th. They issued a "sector weight" rating on the stock. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Amdocs in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $86.67.

About Amdocs

Amdocs NASDAQ: DOX is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs' product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra'anana, Israel.

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