Wellington Management Group LLP Has $242.62 Million Holdings in Amdocs Limited $DOX

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 lowered its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 1.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,651,582 shares of the technology company's stock after selling 28,840 shares during the period. Wellington Management Group LLP owned 2.35% of Amdocs worth $242,620,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of DOX. Cornerstone Planning Group LLC bought a new position in Amdocs during the first quarter worth about $27,000. AdvisorNet Financial Inc boosted its holdings in shares of Amdocs by 382.9% during the first quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock worth $31,000 after acquiring an additional 268 shares during the period. NBC Securities Inc. bought a new stake in shares of Amdocs during the first quarter worth approximately $31,000. Cullen Frost Bankers Inc. bought a new stake in shares of Amdocs during the first quarter worth approximately $39,000. Finally, Tower Research Capital LLC TRC boosted its holdings 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 period. Institutional investors own 92.02% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Amdocs from a "hold" rating to a "buy" rating in a report on Sunday, August 10th. Wolfe Research assumed coverage on Amdocs in a report on Tuesday, July 8th. They set an "outperform" rating for the company. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $105.33.

Amdocs Price Performance

Shares of DOX stock traded up $1.66 during trading on Friday, hitting $88.27. The company had a trading volume of 700,056 shares, compared to its average volume of 867,027. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.22. The firm has a market capitalization of $9.96 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 1.58 and a beta of 0.51. The stock's 50-day moving average price is $89.14 and its 200 day moving average price is $88.77. Amdocs Limited has a one year low of $78.61 and a one year high of $95.41.

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

Amdocs Announces Dividend

The company 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. This represents a $2.11 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, September 30th. Amdocs's payout ratio is currently 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.