Amdocs Limited $DOX Holdings Reduced by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in Amdocs Limited by 2.5%, now owning 698,849 shares worth approximately $63.9 million.
• The average rating for Amdocs shares is now a "Buy", with analysts setting an average price target of $105.33.
• Amdocs has declared a quarterly dividend of $0.527, representing a 2.4% yield, payable on October 31st to investors of record on September 30th.

Hotchkis & Wiley Capital Management LLC lowered its position in Amdocs Limited (NASDAQ:DOX - Free Report) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 698,849 shares of the technology company's stock after selling 18,158 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.62% of Amdocs worth $63,945,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC bought a new stake in shares of Amdocs in the 1st quarter worth about $27,000. AdvisorNet Financial Inc increased 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 purchasing an additional 268 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Amdocs in the 1st quarter worth about $31,000. Cullen Frost Bankers Inc. bought a new stake in shares of Amdocs in the 1st quarter worth about $39,000. Finally, SVB Wealth LLC bought a new stake in shares of Amdocs in the 1st quarter worth about $43,000. Institutional investors and hedge funds own 92.02% of the company's stock.

Amdocs Stock Performance

DOX traded up $0.59 on Wednesday, hitting $87.13. 1,088,223 shares of the company's stock were exchanged, compared to its average volume of 719,848. The firm has a market cap of $9.84 billion, a PE ratio of 17.67, a P/E/G ratio of 1.60 and a beta of 0.51. Amdocs Limited has a twelve month low of $78.61 and a twelve month high of $95.41. The stock has a fifty day moving average of $88.89 and a two-hundred day moving average of $88.78. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23.

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

Amdocs Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.527 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.11 annualized dividend and a yield of 2.4%. Amdocs's dividend payout ratio is 42.60%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on DOX shares. Wolfe Research started coverage on shares of Amdocs in a research 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 research report on Sunday, August 10th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Amdocs has a consensus rating of "Buy" and a consensus target price of $105.33.

About Amdocs

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.