Atria Wealth Solutions Inc. Reduces Stock Position in Amdocs Limited $DOX

Key Points

• Atria Wealth Solutions Inc. reduced its holdings in Amdocs Limited by 78.4%, selling 27,434 shares and holding 7,568 shares worth $694,000 at the end of the second quarter.
• Amdocs announced a quarterly dividend of $0.527 per share, set to be paid on October 31st, with a dividend yield of 2.5%.
• Analysts have a consensus rating of "Moderate Buy" for Amdocs, with an average target price of $108.00, following recent upgrades from several firms.

Atria Wealth Solutions Inc. lessened its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 78.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,568 shares of the technology company's stock after selling 27,434 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Amdocs were worth $694,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. OneDigital Investment Advisors LLC grew its holdings in shares of Amdocs by 20.8% during the first quarter. OneDigital Investment Advisors LLC now owns 3,026 shares of the technology company's stock worth $277,000 after purchasing an additional 521 shares during the last quarter. Farther Finance Advisors LLC grew its holdings 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 buying an additional 147 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Amdocs by 7.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,738 shares of the technology company's stock worth $616,000 after buying an additional 490 shares during the last quarter. Dakota Wealth Management purchased a new position in shares of Amdocs during the second quarter worth about $458,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Amdocs by 15.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,555 shares of the technology company's stock worth $963,000 after buying an additional 1,421 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company's stock.

Amdocs Price Performance

Shares of NASDAQ:DOX opened at $82.94 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. The company has a market cap of $9.36 billion, a P/E ratio of 16.82, a PEG ratio of 1.38 and a beta of 0.51. Amdocs Limited has a 52 week low of $78.61 and a 52 week high of $95.41. The company has a 50-day moving average price of $84.41 and a 200 day moving average price of $87.41.

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

Amdocs Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 30th. Amdocs's dividend payout ratio (DPR) is presently 42.80%.

Analyst Ratings Changes

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

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.

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