Lingohr Asset Management GmbH Sells 74,467 Shares of Amdocs Limited $DOX

Key Points

• Lingohr Asset Management GmbH reduced its holdings in Amdocs Limited by 91.1% in the second quarter, now owning 7,304 shares worth approximately $666,000.
• Amdocs reported a quarterly revenue of $1.14 billion, slightly beating analysts' expectations, but showing an 8.4% year-over-year decline.
• The company announced a quarterly dividend of $0.527, yielding 2.5%, with an ex-dividend date set for September 30th.

Lingohr Asset Management GmbH trimmed its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 91.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,304 shares of the technology company's stock after selling 74,467 shares during the quarter. Lingohr Asset Management GmbH's holdings in Amdocs were worth $666,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DOX. LSV Asset Management boosted its holdings in shares of Amdocs by 11.1% during the 1st quarter. LSV Asset Management now owns 3,180,501 shares of the technology company's stock worth $291,016,000 after buying an additional 317,412 shares during the period. Alyeska Investment Group L.P. grew its position in shares of Amdocs by 38.6% in the first quarter. Alyeska Investment Group L.P. now owns 2,329,767 shares of the technology company's stock valued at $213,174,000 after purchasing an additional 648,693 shares during the last quarter. American Century Companies Inc. grew its position in shares of Amdocs by 23.5% in the first quarter. American Century Companies Inc. now owns 2,242,829 shares of the technology company's stock valued at $205,219,000 after purchasing an additional 426,911 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Amdocs by 9.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,120,075 shares of the technology company's stock valued at $193,978,000 after purchasing an additional 182,489 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Amdocs by 43.0% in the first quarter. AQR Capital Management LLC now owns 955,158 shares of the technology company's stock valued at $86,719,000 after purchasing an additional 287,243 shares during the last quarter. 92.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on DOX shares. Wolfe Research started coverage on Amdocs in a report on Tuesday, July 8th. They issued an "outperform" rating on the stock. Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $105.33.

Amdocs Trading Down 0.1%

Amdocs stock traded down $0.05 during mid-day trading on Friday, hitting $84.44. 137,703 shares of the stock were exchanged, compared to its average volume of 725,319. Amdocs Limited has a 12 month low of $78.61 and a 12 month high of $95.41. The firm's fifty day simple moving average is $86.61 and its two-hundred day simple moving average is $88.44. The stock has a market capitalization of $9.53 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 1.53 and a beta of 0.54. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share for the quarter, topping 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 business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the firm earned $1.62 earnings per share. Amdocs's quarterly revenue was down 8.4% on a year-over-year basis. Analysts forecast that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Announces Dividend

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