Boothbay Fund Management LLC Reduces Stock Holdings in Amdocs Limited $DOX

Key Points

• Boothbay Fund Management LLC reduced its stake in Amdocs Limited by 24.5% in the first quarter, ending with approximately 181,409 shares, which now make up 0.4% of its total holdings.
• In contrast, several other institutional investors, including AdvisorNet Financial Inc and Cornerstone Planning Group LLC, have increased their positions in Amdocs during the same period.
• Amdocs reported a quarterly earnings beat with $1.72 per share, along with a declared quarterly dividend of $0.527 scheduled for payment on October 31st.

Boothbay Fund Management LLC lessened its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 24.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 181,409 shares of the technology company's stock after selling 58,897 shares during the period. Amdocs accounts for approximately 0.4% of Boothbay Fund Management LLC's portfolio, making the stock its 20th biggest position. Boothbay Fund Management LLC owned about 0.16% of Amdocs worth $16,599,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DOX. OneDigital Investment Advisors LLC lifted its holdings in Amdocs by 20.8% in the first quarter. OneDigital Investment Advisors LLC now owns 3,026 shares of the technology company's stock valued at $277,000 after acquiring an additional 521 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in 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 period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Amdocs by 7.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,738 shares of the technology company's stock valued at $616,000 after acquiring an additional 490 shares during the period. Tower Research Capital LLC TRC boosted its position 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 worth $50,000 after purchasing an additional 208 shares during the period. Finally, Ritholtz Wealth Management lifted its stake in Amdocs by 18.9% during the first quarter. Ritholtz Wealth Management now owns 3,195 shares of the technology company's stock worth $292,000 after purchasing an additional 507 shares in the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Amdocs Stock Down 0.2%

Shares of Amdocs stock traded down $0.20 on Monday, reaching $85.80. 728,445 shares of the company were exchanged, compared to its average volume of 731,877. The stock's 50 day moving average price is $87.87 and its 200-day moving average price is $88.65. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. Amdocs Limited has a 1-year low of $78.61 and a 1-year high of $95.41. The company has a market cap of $9.69 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 1.57 and a beta of 0.54.

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

Amdocs Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid 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 dividend yield of 2.5%. Amdocs's payout ratio is presently 42.80%.

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.