Banque Cantonale Vaudoise Makes New Investment in Amdocs Limited (NASDAQ:DOX)

Key Points

• Banque Cantonale Vaudoise acquired a new stake in Amdocs Limited, purchasing 21,266 shares valued at approximately $1.946 million during the first quarter.
• Amdocs reported $1.78 earnings per share, exceeding analyst estimates, despite a 9.4% decline in revenue compared to the same quarter last year.
• The company announced a quarterly dividend of $0.527 per share, yielding an annualized rate of 2.45%.

Banque Cantonale Vaudoise purchased a new position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 21,266 shares of the technology company's stock, valued at approximately $1,946,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norden Group LLC grew its stake in Amdocs by 26.9% in the 1st quarter. Norden Group LLC now owns 3,978 shares of the technology company's stock worth $364,000 after acquiring an additional 843 shares in the last quarter. Mackenzie Financial Corp grew its stake in Amdocs by 8.9% in the 1st quarter. Mackenzie Financial Corp now owns 104,503 shares of the technology company's stock worth $9,562,000 after acquiring an additional 8,565 shares in the last quarter. LPL Financial LLC lifted its position in shares of Amdocs by 5.2% in the 1st quarter. LPL Financial LLC now owns 129,414 shares of the technology company's stock worth $11,841,000 after purchasing an additional 6,399 shares during the period. Councilmark Asset Management LLC purchased a new stake in shares of Amdocs in the 1st quarter worth approximately $205,000. Finally, HB Wealth Management LLC lifted its position in shares of Amdocs by 35.5% in the 1st quarter. HB Wealth Management LLC now owns 5,202 shares of the technology company's stock worth $476,000 after purchasing an additional 1,363 shares during the period. 92.02% of the stock is currently owned by institutional investors.

Amdocs Stock Down 1.0%

NASDAQ:DOX traded down $0.87 during midday trading on Friday, reaching $84.49. 1,027,433 shares of the stock traded hands, compared to its average volume of 696,984. Amdocs Limited has a 12-month low of $78.61 and a 12-month high of $95.41. The business has a 50-day moving average of $90.81 and a two-hundred day moving average of $88.65. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $9.54 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.42 and a beta of 0.52.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its earnings results on Wednesday, May 7th. The technology company reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.07. Amdocs had a net margin of 11.39% and a return on equity of 19.52%. The company had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter in the prior year, the company posted $1.56 earnings per share. Amdocs's revenue for the quarter was down 9.4% compared to the same quarter last year. On average, equities analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a yield of 2.5%. Amdocs's dividend payout ratio is presently 44.42%.

Analyst Ratings Changes

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