Clark Estates Inc. NY Decreases Stake in Amdocs Limited (NASDAQ:DOX)

Key Points

• Clark Estates Inc. NY has reduced its stake in Amdocs Limited by 27.6%, now owning 24,076 shares valued at approximately $2.2 million.
• Several hedge funds have altered their positions in Amdocs, with notable increases from AdvisorNet Financial Inc. by 382.9% and Tower Research Capital LLC TRC by 55%.
• Amdocs reported earnings of $1.78 per share for the last quarter, exceeding estimates, although its revenue decreased by 9.4% compared to the previous year.

Clark Estates Inc. NY decreased its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 27.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,076 shares of the technology company's stock after selling 9,193 shares during the period. Clark Estates Inc. NY's holdings in Amdocs were worth $2,203,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in DOX. Farther Finance Advisors LLC grew its stake 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 worth $90,000 after acquiring an additional 147 shares during the last quarter. Denali Advisors LLC increased its position in shares of Amdocs by 3.6% in the 1st quarter. Denali Advisors LLC now owns 5,810 shares of the technology company's stock valued at $532,000 after acquiring an additional 200 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Amdocs by 55.0% in 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. Allworth Financial LP raised its stake in shares of Amdocs by 13.2% in the first quarter. Allworth Financial LP now owns 1,829 shares of the technology company's stock worth $157,000 after purchasing an additional 213 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Amdocs by 3.1% during the first quarter. Fifth Third Bancorp now owns 7,537 shares of the technology company's stock worth $690,000 after purchasing an additional 225 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Price Performance

DOX traded down $0.87 on Friday, hitting $84.49. 1,027,433 shares of the company's stock were exchanged, compared to its average volume of 696,983. Amdocs Limited has a fifty-two week low of $78.61 and a fifty-two week high of $95.41. The stock has a market cap of $9.54 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 1.42 and a beta of 0.52. The firm has a 50-day moving average price of $90.81 and a 200-day moving average price of $88.65. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.07. Amdocs had a net margin of 11.39% and a return on equity of 19.52%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the firm posted $1.56 earnings per share. The company's revenue for the quarter was down 9.4% on a year-over-year basis. As a group, equities analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, June 30th were given a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, June 30th. Amdocs's dividend payout ratio (DPR) is presently 44.42%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on DOX shares. Wolfe Research initiated coverage on shares of Amdocs in a report on Tuesday, July 8th. They set an "outperform" rating for the company. Wall Street Zen upgraded Amdocs from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $105.33.

Amdocs 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.