Howe & Rusling Inc. Has $6.09 Million Holdings in 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. cut its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 32.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,592 shares of the technology company's stock after selling 31,295 shares during the period. Howe & Rusling Inc. owned about 0.06% of Amdocs worth $6,093,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

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

Amdocs Trading Up 1.7%

DOX stock opened at $85.33 on Friday. The business has a fifty day moving average price of $87.33 and a 200 day moving average price of $88.56. Amdocs Limited has a fifty-two week low of $78.61 and a fifty-two week high of $95.41. The stock has a market capitalization of $9.63 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 1.53 and a beta of 0.54. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.01. The firm 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%.The business's quarterly revenue was down 8.4% compared to the same quarter last year. During the same period last year, the company earned $1.62 EPS. Analysts expect 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. Shareholders of record on Tuesday, September 30th will be given a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, September 30th. Amdocs's dividend payout ratio (DPR) is presently 42.60%.

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.

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