Amdocs Limited $DOX Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Amdocs Limited by 1.1%, now owning approximately 2.35% of the company, worth about $242.6 million.
• A number of brokerages have upgraded Amdocs, with a consensus rating of "Buy" and an average target price of $105.33.
• Amdocs recently announced a quarterly dividend of $0.527 per share, with a dividend yield of 2.4% and a payout ratio of 42.80%.

Wellington Management Group LLP reduced its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 1.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,651,582 shares of the technology company's stock after selling 28,840 shares during the quarter. Wellington Management Group LLP owned about 2.35% of Amdocs worth $242,620,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC purchased a new stake in Amdocs during the 1st quarter valued at $27,000. AdvisorNet Financial Inc increased its stake 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 in the last quarter. NBC Securities Inc. bought a new position in Amdocs in the 1st quarter worth $31,000. Cullen Frost Bankers Inc. bought a new position in Amdocs in the 1st quarter worth $39,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Amdocs by 55.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company's stock worth $50,000 after buying an additional 208 shares during the period. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Amdocs Stock Performance

Shares of DOX traded down $0.7580 during trading hours on Monday, reaching $87.5120. 94,581 shares of the company traded hands, compared to its average volume of 715,474. The stock has a market capitalization of $9.88 billion, a P/E ratio of 17.76, a P/E/G ratio of 1.61 and a beta of 0.51. 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 Limited has a 12-month low of $78.61 and a 12-month high of $95.41. The business has a fifty day moving average price of $89.14 and a 200-day moving average price of $88.79.

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

Amdocs Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a yield of 2.4%. Amdocs's dividend payout ratio is presently 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.