Amdocs Limited (NASDAQ:DOX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in Amdocs Limited (NASDAQ:DOX - Free Report) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 335,328 shares of the technology company's stock after selling 10,895 shares during the quarter. Bank of New York Mellon Corp owned 0.30% of Amdocs worth $30,683,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of DOX. Alyeska Investment Group L.P. grew its stake in Amdocs by 86.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company's stock worth $143,127,000 after purchasing an additional 781,061 shares during the period. Wellington Management Group LLP lifted its position in shares of Amdocs by 25.4% during the fourth quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company's stock valued at $228,211,000 after purchasing an additional 543,490 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Amdocs by 16.1% during the fourth quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company's stock worth $261,756,000 after acquiring an additional 426,035 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Amdocs by 2,489.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 376,383 shares of the technology company's stock worth $32,045,000 after acquiring an additional 361,845 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Amdocs by 32.8% during the fourth quarter. Russell Investments Group Ltd. now owns 979,861 shares of the technology company's stock worth $83,426,000 after acquiring an additional 242,093 shares during the period. 92.02% of the stock is currently owned by institutional investors.

Amdocs Trading Up 0.1%

DOX stock traded up $0.11 during trading on Friday, hitting $89.42. 520,370 shares of the company traded hands, compared to its average volume of 664,347. The firm has a market capitalization of $10.09 billion, a PE ratio of 18.83, a P/E/G ratio of 1.48 and a beta of 0.52. Amdocs Limited has a 1 year low of $78.61 and a 1 year high of $95.41. The company has a 50-day moving average of $91.45 and a 200-day moving average of $88.42. 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 (NASDAQ:DOX - Get Free Report) last issued its earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.07. Amdocs had a return on equity of 19.52% and a net margin of 11.39%. The company had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the prior year, the business posted $1.56 EPS. Amdocs's quarterly revenue was down 9.4% compared to the same quarter last year. Analysts predict that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, June 30th will be given a $0.527 dividend. This represents a $2.11 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Monday, June 30th. Amdocs's dividend payout ratio is currently 44.42%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wolfe Research assumed coverage on Amdocs in a research note on Tuesday, July 8th. They issued an "outperform" rating on the stock. Wall Street Zen upgraded Amdocs from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target 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.