Citigroup Inc. Buys 56,056 Shares of Amdocs Limited $DOX

Key Points

• Citigroup Inc. has increased its stake in Amdocs Limited by 138.8%, owning approximately 0.09% of the company valued at $8.8 million after acquiring 56,056 additional shares.
• Amdocs reported $1.72 earnings per share (EPS) for the last quarter, slightly exceeding estimates, despite an 8.4% decline in revenue year-over-year.
• The company will pay a quarterly dividend of $0.527 per share on October 31st, representing an annual yield of 2.4%.

Citigroup Inc. raised its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 138.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,437 shares of the technology company's stock after acquiring an additional 56,056 shares during the quarter. Citigroup Inc. owned about 0.09% of Amdocs worth $8,824,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings 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 valued at $90,000 after purchasing an additional 147 shares during the period. Corbyn Investment Management Inc. MD raised its holdings 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 valued at $3,556,000 after purchasing an additional 152 shares during the period. PNC Financial Services Group Inc. raised its holdings 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 valued at $480,000 after purchasing an additional 177 shares during the period. Denali Advisors LLC raised its holdings 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 valued at $532,000 after purchasing an additional 200 shares during the period. Finally, Tower Research Capital LLC TRC raised 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 valued at $50,000 after purchasing an additional 208 shares during the period. Institutional investors own 92.02% of the company's stock.

Amdocs Stock Down 0.4%

DOX stock traded down $0.3330 during trading on Wednesday, reaching $87.1170. The stock had a trading volume of 283,020 shares, compared to its average volume of 715,181. Amdocs Limited has a one year low of $78.61 and a one year high of $95.41. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. The company's 50 day moving average is $89.50 and its two-hundred day moving average is $88.77. The company has a market capitalization of $9.83 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 1.59 and a beta of 0.51.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.72 earnings per share (EPS) 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 period in the prior year, the firm posted $1.62 EPS. The firm's quarterly revenue was down 8.4% compared to the same quarter last year. Equities research analysts forecast that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Dividend Announcement

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 $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Amdocs's dividend payout ratio is presently 42.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a report on Sunday, August 10th. Wolfe Research assumed coverage on shares of Amdocs in a 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, Amdocs has an average rating of "Buy" and an average target price of $105.33.

About Amdocs

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.