Headlands Technologies LLC Raises Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Key Points

• Headlands Technologies LLC has increased its holdings in Amdocs Limited by 53.6%, now owning 27,008 shares valued at approximately $2.47 million as of the latest SEC filing.
• Amdocs reported an earnings per share (EPS) of $1.72 for the last quarter, exceeding estimates, yet its revenue declined by 8.4% year-over-year, totaling $1.14 billion.
• Analysts have a consensus rating of "Moderate Buy" for Amdocs, with an average price target of $105.33, indicating positive market sentiment despite some recent downgrades.

Headlands Technologies LLC boosted its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 53.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,008 shares of the technology company's stock after acquiring an additional 9,424 shares during the period. Headlands Technologies LLC's holdings in Amdocs were worth $2,471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Cornerstone Planning Group LLC bought a new position in Amdocs during the 1st quarter worth $27,000. AdvisorNet Financial Inc lifted its position in Amdocs by 382.9% during the first quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock worth $31,000 after purchasing an additional 268 shares during the period. NBC Securities Inc. bought a new stake in Amdocs during the first quarter worth about $31,000. Cullen Frost Bankers Inc. bought a new stake in Amdocs during the first quarter worth about $39,000. Finally, Tower Research Capital LLC TRC lifted its position in Amdocs by 55.0% during the fourth 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. Institutional investors own 92.02% of the company's stock.

Amdocs Price Performance

NASDAQ:DOX traded down $0.94 during trading hours on Monday, hitting $88.47. The company's stock had a trading volume of 279,041 shares, compared to its average volume of 706,044. The stock has a fifty day simple moving average of $90.17 and a 200-day simple moving average of $88.77. The company has a market capitalization of $9.99 billion, a P/E ratio of 17.96, a PEG ratio of 1.64 and a beta of 0.51. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.16. Amdocs Limited has a twelve month low of $78.61 and a twelve month high of $95.41.

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

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.527 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.11 annualized dividend and a dividend yield of 2.4%. Amdocs's payout ratio is currently 42.60%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Amdocs from a "hold" rating to a "buy" rating in a research report on Sunday. Wolfe Research assumed coverage on shares of Amdocs in a research report on Tuesday, July 8th. They set an "outperform" rating for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Amdocs currently has a consensus rating of "Buy" and a consensus price target of $105.33.

About Amdocs

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.