Deutsche Bank AG Sells 44,822 Shares of Amdocs Limited (NASDAQ:DOX)

Deutsche Bank AG lowered its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 11.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 347,559 shares of the technology company's stock after selling 44,822 shares during the period. Deutsche Bank AG owned approximately 0.31% of Amdocs worth $31,802,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in Amdocs by 5.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 224,076 shares of the technology company's stock valued at $20,503,000 after acquiring an additional 10,766 shares during the period. Corbyn Investment Management Inc. MD grew its stake in Amdocs by 0.4% in 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 acquiring an additional 152 shares during the period. Atria Wealth Solutions Inc. grew its stake in Amdocs by 20.7% in the first quarter. Atria Wealth Solutions Inc. now owns 35,002 shares of the technology company's stock valued at $3,221,000 after acquiring an additional 6,014 shares during the period. Bank of Nova Scotia grew its stake in Amdocs by 26.0% in the first quarter. Bank of Nova Scotia now owns 7,454 shares of the technology company's stock valued at $682,000 after acquiring an additional 1,539 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in Amdocs by 3.5% in the first quarter. PNC Financial Services Group Inc. now owns 5,247 shares of the technology company's stock valued at $480,000 after acquiring an additional 177 shares during the period. Institutional investors and hedge funds own 92.02% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wolfe Research assumed coverage on Amdocs in a research note on Tuesday, July 8th. They issued an "outperform" rating for the company. Wall Street Zen raised Amdocs from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $105.33.

Amdocs Stock Up 0.0%

Shares of NASDAQ:DOX traded up $0.01 during mid-day trading on Friday, hitting $87.36. 773,494 shares of the company traded hands, compared to its average volume of 715,077. The stock has a market cap of $9.86 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.62 and a beta of 0.51. The company has a current ratio of 1.22, a quick ratio of 1.16 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 stock has a 50-day moving average price of $89.82 and a two-hundred day moving average price of $88.76.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its 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. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.13 billion. Amdocs had a return on equity of 19.66% and a net margin of 11.94%. Amdocs's quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.62 earnings per share. On average, equities research analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.527 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.11 annualized dividend and a dividend yield of 2.4%. Amdocs's payout ratio is presently 42.80%.

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.