C WorldWide Group Holding A S Sells 18,194 Shares of Amdocs Limited $DOX

Key Points

• C WorldWide Group Holding A S reduced its Amdocs stake by 47.4% in the second quarter, selling 18,194 shares and retaining 20,165 shares valued at approximately $1.02 million. Institutional investors collectively own 92.02% of Amdocs.
• Amdocs reported quarterly earnings of $1.84 per share, matching analyst expectations, while revenue rose 2.7% year over year to $1.17 billion. Analysts expect full-year earnings of $6.56 per share.
• The company declared a quarterly dividend of $0.569 per share, equivalent to an annualized $2.28 payout and a 3.8% yield. Analyst sentiment remains mixed, with an overall “Hold” rating and a consensus price target of $86.67.

C WorldWide Group Holding A S cut its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 47.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,165 shares of the technology company's stock after selling 18,194 shares during the period. C WorldWide Group Holding A S's holdings in Amdocs were worth $1,019,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of DOX. Royal Bank of Canada boosted its position in Amdocs by 14.9% during the first quarter. Royal Bank of Canada now owns 446,125 shares of the technology company's stock worth $29,114,000 after purchasing an additional 57,740 shares during the period. Renaissance Technologies LLC raised its position in shares of Amdocs by 429.6% in the first quarter. Renaissance Technologies LLC now owns 291,800 shares of the technology company's stock valued at $19,043,000 after purchasing an additional 236,700 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Amdocs by 85.4% in the fourth quarter. BNP Paribas Financial Markets now owns 201,982 shares of the technology company's stock worth $16,262,000 after buying an additional 93,036 shares during the last quarter. Arbejdsmarkedets Tillaegspension boosted its holdings in shares of Amdocs by 17.5% during the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 354,383 shares of the technology company's stock worth $23,127,000 after buying an additional 52,906 shares during the period. Finally, Bank of America Corp DE grew its stake in Amdocs by 29.1% in the 1st quarter. Bank of America Corp DE now owns 1,262,263 shares of the technology company's stock valued at $82,375,000 after buying an additional 284,435 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors.

Amdocs Stock Performance

Shares of NASDAQ DOX opened at $59.97 on Wednesday. The firm has a market capitalization of $6.47 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 1.08 and a beta of 0.42. Amdocs Limited has a one year low of $49.74 and a one year high of $86.11. The business has a fifty day simple moving average of $56.62 and a 200 day simple moving average of $60.76. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The technology company reported $1.84 earnings per share for the quarter, hitting analysts' consensus estimates of $1.84. Amdocs had a net margin of 9.75% and a return on equity of 20.28%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company earned $1.72 earnings per share. The business's revenue was up 2.7% compared to the same quarter last year. Sell-side analysts expect that Amdocs Limited will post 6.56 EPS for the current year.

Amdocs Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.569 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Amdocs's payout ratio is presently 54.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. KeyCorp started coverage on shares of Amdocs in a report on Monday, June 29th. They set a "sector weight" rating for the company. Cfra downgraded Amdocs to a "sell" rating in a research report on Thursday, May 14th. Stifel Nicolaus reduced their price objective on Amdocs from $88.00 to $71.00 and set a "buy" rating for the company in a research report on Thursday, May 14th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Amdocs in a research report on Wednesday, August 5th. Finally, Wall Street Zen raised shares of Amdocs from a "hold" rating to a "buy" rating in a report on Saturday, August 29th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $86.67.

Amdocs Profile

Amdocs NASDAQ: DOX is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs' product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra'anana, Israel.

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