Deroy & Devereaux Private Investment Counsel Inc. Reduces Holdings in Amdocs Limited $DOX

Key Points

• Deroy & Devereaux Private Investment Counsel Inc. reduced its holdings in Amdocs Limited by 1.9%, now owning 294,307 shares valued at approximately $26.85 million.
• Amdocs reported a quarterly earnings per share of $1.72, surpassing analysts' expectations of $1.71, but showed an 8.4% revenue decline from the previous year.
• The company announced a quarterly dividend of $0.527 to be paid on October 31, with an annualized yield of 2.5%.

Deroy & Devereaux Private Investment Counsel Inc. decreased its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 294,307 shares of the technology company's stock after selling 5,692 shares during the quarter. Amdocs makes up about 1.5% of Deroy & Devereaux Private Investment Counsel Inc.'s holdings, making the stock its 29th largest position. Deroy & Devereaux Private Investment Counsel Inc. owned 0.26% of Amdocs worth $26,853,000 at the end of the most recent reporting period.

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 DOX opened at $83.66 on Wednesday. Amdocs Limited has a twelve month low of $78.61 and a twelve month high of $95.41. The stock's 50 day moving average is $84.71 and its two-hundred day moving average is $87.59. The firm has a market capitalization of $9.44 billion, a PE ratio of 16.97, a P/E/G ratio of 1.36 and a beta of 0.51. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23.

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

Amdocs Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Amdocs's payout ratio is currently 42.60%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wall Street Zen raised Amdocs from a "hold" rating to a "buy" rating in a report on Saturday. Wolfe Research assumed coverage on Amdocs in a report on Tuesday, July 8th. They set an "outperform" rating on the stock. 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $108.00.

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.

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