Amdocs Limited $DOX Shares Sold by Diversified Trust Co

Key Points

• Diversified Trust Co sold 3,290 shares of Amdocs Limited ($DOX), reducing its holdings by 5.4% to approximately 57,546 shares valued at $5.25 million as of the end of the second quarter.
• Amdocs has received a consensus "Buy" rating from research analysts, with a price target of $105.33, following upgrades from Wall Street Zen and Wolfe Research.
• The company announced a quarterly dividend of $0.527, which will be paid on October 31, representing an annualized yield of 2.5% based on a payout ratio of 42.80%.

Diversified Trust Co trimmed its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 5.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,546 shares of the technology company's stock after selling 3,290 shares during the period. Diversified Trust Co owned 0.05% of Amdocs worth $5,250,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Planning Group LLC purchased a new stake in shares of Amdocs in the 1st quarter worth $27,000. AdvisorNet Financial Inc boosted its holdings in 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 buying an additional 268 shares during the period. NBC Securities Inc. bought a new position in Amdocs in the 1st quarter worth $31,000. Quarry LP boosted its holdings in Amdocs by 42.2% in the 1st quarter. Quarry LP now owns 391 shares of the technology company's stock worth $36,000 after buying an additional 116 shares during the period. Finally, Cullen Frost Bankers Inc. bought a new position in Amdocs in the 1st quarter worth $39,000. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on DOX shares. Wolfe Research started coverage on shares of Amdocs in a report on Tuesday, July 8th. They issued an "outperform" rating for the company. Wall Street Zen raised shares of Amdocs from a "hold" rating to a "buy" rating in a report on Sunday, August 10th. 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 Stock Down 0.8%

Shares of NASDAQ DOX traded down $0.66 during midday trading on Tuesday, reaching $83.97. 142,354 shares of the company's stock traded hands, compared to its average volume of 728,086. Amdocs Limited has a one year low of $78.61 and a one year high of $95.41. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. The stock's 50 day simple moving average is $86.44 and its 200-day simple moving average is $88.39. The company has a market cap of $9.48 billion, a price-to-earnings ratio of 17.03, a P/E/G ratio of 1.53 and a beta of 0.54.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.01. Amdocs had a net margin of 11.94% and a return on equity of 19.66%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm earned $1.62 EPS. Amdocs's quarterly revenue was down 8.4% on a year-over-year basis. On average, analysts predict that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Dividend Announcement

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

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.