Howe & Rusling Inc. Sells 31,295 Shares of Amdocs Limited $DOX

Key Points

• Howe & Rusling Inc. reduced its stake in Amdocs Limited (NASDAQ: DOX) by 32%, now holding 66,592 shares valued at approximately $6.09 million.
• Several hedge funds have increased their positions in Amdocs, with institutional investors now owning 92.02% of the company's stock.
• Amdocs recently announced a quarterly dividend of $0.527 payable on October 31st, indicating an annualized yield of 2.5%.

Howe & Rusling Inc. decreased its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 32.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,592 shares of the technology company's stock after selling 31,295 shares during the period. Howe & Rusling Inc. owned approximately 0.06% of Amdocs worth $6,093,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Inspire Investing LLC increased its position in shares of Amdocs by 12.9% in the first quarter. Inspire Investing LLC now owns 3,422 shares of the technology company's stock worth $313,000 after acquiring an additional 392 shares in the last quarter. Strs Ohio acquired a new stake in shares of Amdocs in the first quarter worth $2,715,000. Geneos Wealth Management Inc. lifted its stake in shares of Amdocs by 213.9% in the first quarter. Geneos Wealth Management Inc. now owns 700 shares of the technology company's stock worth $64,000 after buying an additional 477 shares during the last quarter. Belpointe Asset Management LLC acquired a new stake in shares of Amdocs in the first quarter worth $982,000. Finally, Fortis Capital Advisors LLC acquired a new position in Amdocs during the 1st quarter valued at $535,000. 92.02% of the stock is currently owned by institutional investors.

Amdocs Price Performance

DOX stock traded up $1.06 during mid-day trading on Wednesday, reaching $85.04. 208,783 shares of the company traded hands, compared to its average volume of 726,690. Amdocs Limited has a 52-week low of $78.61 and a 52-week high of $95.41. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market capitalization of $9.60 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.54 and a beta of 0.54. The company has a fifty day moving average price of $86.85 and a 200-day moving average price of $88.49.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.72 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the firm earned $1.62 earnings per share. Amdocs's revenue was down 8.4% on a year-over-year basis. As a group, analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 30th. Amdocs's dividend payout ratio is currently 42.80%.

Analyst Upgrades and Downgrades

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

Amdocs 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.