ARGA Investment Management LP Has $908,000 Position in Amdocs Limited $DOX

Key Points

• ARGA Investment Management LP reduced its stake in Amdocs Limited by 41.6%, holding 9,949 shares worth $908,000 as of the latest SEC filing.
• Amdocs reported $1.72 EPS for the last quarter, slightly beating analyst expectations, despite an 8.4% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.527, representing a 2.5% yield, with an upcoming payment date of October 31st.

ARGA Investment Management LP lowered its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 41.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,949 shares of the technology company's stock after selling 7,082 shares during the quarter. ARGA Investment Management LP's holdings in Amdocs were worth $908,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornerstone Planning Group LLC acquired a new stake in Amdocs in the first quarter worth about $27,000. Quarry LP grew its stake in Amdocs by 42.2% in the first quarter. Quarry LP now owns 391 shares of the technology company's stock valued at $36,000 after acquiring an additional 116 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of Amdocs in the 1st quarter valued at approximately $39,000. SVB Wealth LLC bought a new stake in shares of Amdocs during the first quarter worth $43,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Amdocs by 537.8% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 472 shares of the technology company's stock worth $43,000 after purchasing an additional 398 shares in the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Price Performance

Amdocs stock opened at $83.52 on Friday. The firm has a market cap of $9.43 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. The stock's fifty day moving average price is $84.11 and its two-hundred day moving average price is $87.35. Amdocs Limited has a one year low of $78.61 and a one year high of $95.41.

Amdocs (NASDAQ:DOX - Get Free Report) last released its earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.01. Amdocs had a return on equity of 19.66% and a net margin of 11.94%.The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the firm posted $1.62 EPS. Amdocs's quarterly revenue was down 8.4% on a year-over-year basis. As a group, research analysts expect that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a $0.527 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.11 annualized dividend and a dividend yield of 2.5%. Amdocs's payout ratio is presently 42.60%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of Amdocs in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a report on Saturday, October 11th. Finally, Wolfe Research began coverage on Amdocs in a research note on Tuesday, July 8th. They issued an "outperform" rating for the company. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Amdocs currently has an average rating of "Moderate Buy" and an average target price of $108.00.

Amdocs Company 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.

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