Amdocs Limited $DOX Shares Sold by Boston Trust Walden Corp

Key Points

• Boston Trust Walden cut its Amdocs stake by 92.9% in the third quarter, selling 50,735 shares and retaining 3,900 shares valued at $223,000. Institutional investors collectively own 92.02% of the stock.
• Amdocs reported quarterly EPS of $1.98 and revenue of $1.19 billion, both in line with analyst estimates; revenue rose 3.8% year over year.
• The company announced a quarterly dividend of $0.569 per share, equivalent to an annualized yield of 5.4%. Analysts’ consensus rating was “Hold,” with an average price target of $78.33.

Boston Trust Walden Corp cut its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 92.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,900 shares of the technology company's stock after selling 50,735 shares during the period. Boston Trust Walden Corp's holdings in Amdocs were worth $223,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in Amdocs by 16.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,292 shares of the technology company's stock valued at $74,000 after purchasing an additional 182 shares in the last quarter. Alpine Bank Wealth Management boosted its position in shares of Amdocs by 58.2% in the third quarter. Alpine Bank Wealth Management now owns 500 shares of the technology company's stock worth $29,000 after buying an additional 184 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of Amdocs by 3.5% in the first quarter. Sequoia Financial Advisors LLC now owns 6,443 shares of the technology company's stock valued at $420,000 after buying an additional 218 shares in the last quarter. Covestor Ltd raised its holdings in shares of Amdocs by 11.8% during the 3rd quarter. Covestor Ltd now owns 2,461 shares of the technology company's stock valued at $141,000 after buying an additional 259 shares during the period. Finally, Fulton Bank N.A. raised its holdings in shares of Amdocs by 8.5% during the 2nd quarter. Fulton Bank N.A. now owns 4,667 shares of the technology company's stock valued at $236,000 after buying an additional 367 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Price Performance

Shares of DOX traded down $1.74 during mid-day trading on Friday, hitting $42.09. 4,358,971 shares of the company traded hands, compared to its average volume of 946,788. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 9.01, a PEG ratio of 1.01 and a beta of 0.42. Amdocs Limited has a one year low of $40.48 and a one year high of $85.63. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average of $59.49 and a 200 day moving average of $61.98.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The technology company reported $1.98 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.98. Amdocs had a return on equity of 20.28% and a net margin of 9.75%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company earned $1.83 EPS. The firm's revenue was up 3.8% on a year-over-year basis. As a group, equities analysts expect that Amdocs Limited will post 7.12 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Thursday, December 31st will be issued a dividend of $0.5690 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Thursday, December 31st. Amdocs's payout ratio is currently 48.82%.

Wall Street Analyst Weigh In

DOX has been the topic of several analyst reports. Weiss Ratings upgraded Amdocs from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, October 23rd. Oppenheimer cut shares of Amdocs from an "outperform" rating to a "market perform" rating in a report on Wednesday. Stifel Nicolaus cut their price objective on Amdocs from $71.00 to $46.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Wall Street Zen lowered Amdocs from a "buy" rating to a "hold" rating in a report on Saturday. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $78.33.

About Amdocs

Amdocs Ltd. 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, billing, subscriptions, product offerings and digital experiences across consumer and enterprise markets.

The company's portfolio includes business support systems and operational support systems, cloud-based software, artificial intelligence and automation tools, network and service management platforms, and solutions for media distribution and monetization.

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