Amdocs Limited $DOX Shares Sold 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 decreased its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 2.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 698,849 shares of the technology company's stock after selling 18,158 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.62% of Amdocs worth $63,945,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Farther Finance Advisors LLC grew its stake in shares of Amdocs by 17.5% during the first quarter. Farther Finance Advisors LLC now owns 988 shares of the technology company's stock worth $90,000 after acquiring an additional 147 shares during the last quarter. Corbyn Investment Management Inc. MD grew its stake in shares of Amdocs by 0.4% during the first quarter. Corbyn Investment Management Inc. MD now owns 38,866 shares of the technology company's stock worth $3,556,000 after acquiring an additional 152 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Amdocs by 3.5% during the first quarter. PNC Financial Services Group Inc. now owns 5,247 shares of the technology company's stock worth $480,000 after acquiring an additional 177 shares during the last quarter. Denali Advisors LLC grew its stake in shares of Amdocs by 3.6% during the first quarter. Denali Advisors LLC now owns 5,810 shares of the technology company's stock worth $532,000 after acquiring an additional 200 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Amdocs by 55.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company's stock worth $50,000 after acquiring an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company's stock.

Analyst Ratings Changes

DOX has been the subject of several research analyst reports. Wall Street Zen upgraded Amdocs from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Wolfe Research assumed coverage on Amdocs in a research report on Tuesday, July 8th. They issued an "outperform" rating on the stock. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $105.33.

Amdocs Stock Performance

DOX stock traded down $1.90 during trading on Thursday, hitting $85.23. 444,332 shares of the company traded hands, compared to its average volume of 717,714. The stock's 50-day simple moving average is $88.79 and its 200 day simple moving average is $88.77. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market cap of $9.62 billion, a PE ratio of 17.24, a P/E/G ratio of 1.58 and a beta of 0.51. Amdocs Limited has a 1 year low of $78.61 and a 1 year high of $95.41.

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

Amdocs Dividend Announcement

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

Amdocs 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.