Amdocs Limited (NASDAQ:DOX) Shares Sold by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lowered its position in Amdocs Limited (NASDAQ:DOX - Free Report) by 97.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,625 shares of the technology company's stock after selling 119,845 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Amdocs were worth $240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Alyeska Investment Group L.P. boosted its position in Amdocs by 86.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company's stock valued at $143,127,000 after purchasing an additional 781,061 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Amdocs by 2,489.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 376,383 shares of the technology company's stock valued at $32,045,000 after acquiring an additional 361,845 shares during the period. Russell Investments Group Ltd. raised its position in shares of Amdocs by 32.8% during the 4th quarter. Russell Investments Group Ltd. now owns 979,861 shares of the technology company's stock worth $83,426,000 after acquiring an additional 242,093 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Amdocs by 69.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 459,830 shares of the technology company's stock worth $39,150,000 after buying an additional 188,129 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Amdocs by 25.2% in the 4th quarter. Northern Trust Corp now owns 880,808 shares of the technology company's stock valued at $74,992,000 after purchasing an additional 177,061 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DOX shares. Wall Street Zen downgraded Amdocs from a "buy" rating to a "hold" rating in a research report on Saturday. Wolfe Research initiated coverage on Amdocs in a report on Tuesday, July 8th. They issued an "outperform" rating for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Amdocs presently has a consensus rating of "Moderate Buy" and a consensus price target of $105.33.

Amdocs Trading Down 1.0%

NASDAQ DOX traded down $0.89 during mid-day trading on Tuesday, reaching $84.79. 1,023,095 shares of the stock were exchanged, compared to its average volume of 735,289. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a 50 day simple moving average of $90.41 and a 200-day simple moving average of $88.69. The stock has a market cap of $9.57 billion, a P/E ratio of 17.85, a P/E/G ratio of 1.42 and a beta of 0.51. Amdocs Limited has a one year low of $78.61 and a one year high of $95.41.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The technology company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.71 by $0.07. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Amdocs had a net margin of 11.39% and a return on equity of 19.52%. The company's revenue for the quarter was down 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.56 EPS. On average, analysts anticipate that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Monday, June 30th were given a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, June 30th. Amdocs's dividend payout ratio is presently 44.42%.

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.