Allspring Global Investments Holdings LLC trimmed its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 2.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,198,051 shares of the technology company's stock after selling 65,540 shares during the quarter. Allspring Global Investments Holdings LLC owned 2.83% of Amdocs worth $291,055,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Carolina Wealth Advisors LLC bought a new stake in Amdocs in the first quarter worth $6,581,000. Money Concepts Capital Corp boosted its holdings in Amdocs by 22.7% in the first quarter. Money Concepts Capital Corp now owns 8,246 shares of the technology company's stock worth $754,000 after acquiring an additional 1,526 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in Amdocs by 4.6% in the first quarter. Illinois Municipal Retirement Fund now owns 122,335 shares of the technology company's stock worth $11,194,000 after acquiring an additional 5,367 shares in the last quarter. Diversified Trust Co boosted its holdings in Amdocs by 0.8% in the first quarter. Diversified Trust Co now owns 60,836 shares of the technology company's stock worth $5,566,000 after acquiring an additional 497 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Amdocs by 0.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 525,068 shares of the technology company's stock worth $48,044,000 after acquiring an additional 4,359 shares in the last quarter. 92.02% of the stock is owned by institutional investors.
Amdocs Stock Performance
Shares of NASDAQ:DOX traded down $0.36 during midday trading on Friday, reaching $91.01. 1,723,320 shares of the company's stock traded hands, compared to its average volume of 665,315. The company has a market cap of $10.27 billion, a price-to-earnings ratio of 19.16, a P/E/G ratio of 1.50 and a beta of 0.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.16 and a current ratio of 1.16. Amdocs Limited has a one year low of $77.17 and a one year high of $95.41. The stock has a 50 day moving average of $90.63 and a 200 day moving average of $88.02.
Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.71 by $0.07. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Amdocs had a return on equity of 19.52% and a net margin of 11.39%. The company's quarterly revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.56 earnings per share. As a group, equities research analysts anticipate that Amdocs Limited will post 6.21 EPS for the current fiscal year.
Amdocs Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, June 30th will be given a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Monday, June 30th. Amdocs's dividend payout ratio is currently 44.42%.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen raised Amdocs from a "hold" rating to a "buy" rating in a report on Saturday, June 7th.
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Amdocs Profile
(
Free Report)
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.
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