Amdocs Limited $DOX Shares Sold by SummitTX Capital L.P.

Key Points

• SummitTX Capital cut its Amdocs stake by 90.9% in the first quarter, selling 59,933 shares and retaining 6,008 shares worth approximately $392,000. Other institutional investors, including Millennium Management and Jane Street, increased their positions, while institutions and hedge funds collectively own 92.02% of the stock.
• Analyst sentiment is mixed, with Amdocs carrying a consensus “Hold” rating and an average price target of $86.67. Recent ratings include a buy from Stifel Nicolaus, alongside hold and sell downgrades from other firms.
• Amdocs reported quarterly EPS of $1.78, slightly above estimates, on revenue of $1.17 billion, up 3.9% year over year. The company also declared a quarterly dividend of $0.569 per share, implying a 4.1% yield and a $2.28 annualized payout.

SummitTX Capital L.P. cut its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 90.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,008 shares of the technology company's stock after selling 59,933 shares during the quarter. SummitTX Capital L.P.'s holdings in Amdocs were worth $392,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Amundi boosted its position in shares of Amdocs by 73.0% in the 1st quarter. Amundi now owns 13,778 shares of the technology company's stock valued at $1,217,000 after purchasing an additional 5,816 shares during the period. Millennium Management LLC raised its holdings in Amdocs by 458.3% during the 1st quarter. Millennium Management LLC now owns 67,047 shares of the technology company's stock worth $6,135,000 after buying an additional 55,038 shares during the period. Goldman Sachs Group Inc. lifted its stake in Amdocs by 12.6% during the first quarter. Goldman Sachs Group Inc. now owns 331,146 shares of the technology company's stock valued at $30,300,000 after buying an additional 37,087 shares in the last quarter. Empowered Funds LLC lifted its stake in Amdocs by 12.0% during the first quarter. Empowered Funds LLC now owns 15,979 shares of the technology company's stock valued at $1,462,000 after buying an additional 1,709 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of Amdocs by 195.4% in the first quarter. Jane Street Group LLC now owns 115,929 shares of the technology company's stock worth $10,608,000 after buying an additional 76,683 shares during the period. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on DOX shares. KeyCorp began coverage on shares of Amdocs in a research report on Monday, June 29th. They set a "sector weight" rating on the stock. Weiss Ratings reissued a "hold (c-)" rating on shares of Amdocs in a research report on Friday, May 8th. Stifel Nicolaus reduced their price objective on Amdocs from $88.00 to $71.00 and set a "buy" rating for the company in a research note on Thursday, May 14th. Wall Street Zen lowered Amdocs from a "buy" rating to a "hold" rating in a research report on Sunday, July 5th. Finally, Cfra cut Amdocs to a "sell" rating in a research note on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Amdocs presently has a consensus rating of "Hold" and a consensus price target of $86.67.

Amdocs Trading Up 0.8%

Amdocs stock opened at $55.72 on Friday. Amdocs Limited has a 12 month low of $49.74 and a 12 month high of $90.29. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The stock has a market cap of $6.01 billion, a P/E ratio of 11.14, a P/E/G ratio of 0.96 and a beta of 0.41. The company's fifty day simple moving average is $54.92 and its 200-day simple moving average is $64.23.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.01. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. Amdocs had a return on equity of 19.77% and a net margin of 11.81%.Amdocs's quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $1.78 earnings per share. As a group, sell-side analysts forecast that Amdocs Limited will post 6.56 EPS for the current fiscal year.

Amdocs Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.569 per share. This represents a $2.28 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Tuesday, June 30th. Amdocs's payout ratio is currently 45.40%.

Amdocs Profile

Amdocs NASDAQ: DOX is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs' product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra'anana, Israel.

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