Amdocs Limited $DOX Shares Bought by Ashton Thomas Private Wealth LLC

Key Points

• Ashton Thomas Private Wealth LLC increased its stake in Amdocs Limited by 17.4%, totaling $2.26 million with 24,578 shares owned following a purchase of 3,649 additional shares.
• Amdocs reported quarterly earnings of $1.72 per share, surpassing analysts' expectations, with revenue of $1.14 billion but showing an 8.4% year-over-year decline.
• The company declared a quarterly dividend of $0.527, yielding 2.5%, with a payout ratio of 42.80%, for shareholders of record on September 30th.

Ashton Thomas Private Wealth LLC grew its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 17.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 24,578 shares of the technology company's stock after acquiring an additional 3,649 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in Amdocs were worth $2,262,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Goldman Sachs Group Inc. increased its holdings in shares of Amdocs by 12.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 331,146 shares of the technology company's stock valued at $30,300,000 after acquiring an additional 37,087 shares during the last quarter. USS Investment Management Ltd increased its holdings in shares of Amdocs by 10.8% in the first quarter. USS Investment Management Ltd now owns 24,761 shares of the technology company's stock valued at $2,266,000 after purchasing an additional 2,416 shares during the period. Millennium Management LLC increased its holdings in shares of Amdocs by 458.3% in the first quarter. Millennium Management LLC now owns 67,047 shares of the technology company's stock valued at $6,135,000 after purchasing an additional 55,038 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Amdocs by 33.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,389 shares of the technology company's stock valued at $6,715,000 after buying an additional 18,313 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its holdings in shares of Amdocs by 186.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 49,746 shares of the technology company's stock valued at $4,552,000 after buying an additional 32,354 shares during the period. Hedge funds and other institutional investors own 92.02% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on DOX shares. Wall Street Zen raised Amdocs from a "hold" rating to a "buy" rating in a report on Sunday, August 10th. Wolfe Research started coverage on Amdocs in a report on Tuesday, July 8th. They issued an "outperform" rating for the company. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $105.33.

Amdocs Stock Performance

NASDAQ:DOX traded down $0.37 during midday trading on Monday, reaching $84.63. 183,002 shares of the company traded hands, compared to its average volume of 725,527. Amdocs Limited has a twelve month low of $78.61 and a twelve month high of $95.41. The firm has a market capitalization of $9.55 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.55 and a beta of 0.54. 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 company has a fifty day moving average price of $87.18 and a 200 day moving average price of $88.54.

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

Amdocs Announces Dividend

The business also recently disclosed 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 is Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a yield of 2.5%. Amdocs's payout ratio is currently 42.60%.

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.