Atria Wealth Solutions Inc. Acquires 6,014 Shares of Amdocs Limited (NASDAQ:DOX)

Key Points

• Atria Wealth Solutions Inc. increased its investment in Amdocs Limited by 20.7%, acquiring an additional 6,014 shares, bringing its total holdings to 35,002 shares valued at approximately $3.22 million.
• Amdocs reported a quarterly earnings per share of $1.72, exceeding estimates by $0.01, despite an 8.4% year-over-year revenue decline to $1.14 billion.
• The company will pay a quarterly dividend of $0.527 on October 31st, which represents a 2.4% yield based on an annualized amount of $2.11.

Atria Wealth Solutions Inc. boosted its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 20.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,002 shares of the technology company's stock after acquiring an additional 6,014 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Amdocs were worth $3,221,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. OneDigital Investment Advisors LLC lifted its holdings in shares of Amdocs by 20.8% during the 1st quarter. OneDigital Investment Advisors LLC now owns 3,026 shares of the technology company's stock valued at $277,000 after buying an additional 521 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Amdocs by 17.5% during the 1st quarter. Farther Finance Advisors LLC now owns 988 shares of the technology company's stock valued at $90,000 after buying an additional 147 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Amdocs by 7.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,738 shares of the technology company's stock valued at $616,000 after buying an additional 490 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Amdocs by 55.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company's stock valued at $50,000 after buying an additional 208 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Amdocs by 2.2% during the 4th quarter. Bank of Montreal Can now owns 210,450 shares of the technology company's stock valued at $17,918,000 after buying an additional 4,569 shares during the period. 92.02% of the stock is owned by institutional investors.

Amdocs Trading Up 5.1%

NASDAQ:DOX opened at $88.87 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. Amdocs Limited has a one year low of $78.61 and a one year high of $95.41. The business has a fifty day moving average price of $90.22 and a 200-day moving average price of $88.69.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.71 by $0.01. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. Amdocs had a return on equity of 19.72% and a net margin of 11.94%. Amdocs's revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.62 EPS. Sell-side analysts forecast that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a $0.527 dividend. This represents a $2.11 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, September 30th. Amdocs's dividend payout ratio is 44.42%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on DOX shares. Wall Street Zen cut Amdocs from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Wolfe Research started coverage on Amdocs in a report on Tuesday, July 8th. They set an "outperform" rating on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $105.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.