LPL Financial LLC Purchases 6,399 Shares of Amdocs Limited (NASDAQ:DOX)

Key Points

• LPL Financial LLC has increased its holdings in Amdocs Limited by 5.2% during the 1st quarter, now owning approximately $11.84 million worth of shares.
• Amdocs reported a quarterly EPS of $1.72, slightly beating estimates, while revenue decreased by 8.4% year-over-year, totaling $1.14 billion.
• The company announced a quarterly dividend of $0.527 per share, which represents an annual yield of 2.4%, with the payment scheduled for October 31st.

LPL Financial LLC raised its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 5.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 129,414 shares of the technology company's stock after purchasing an additional 6,399 shares during the period. LPL Financial LLC owned 0.11% of Amdocs worth $11,841,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of DOX. Farther Finance Advisors LLC lifted its holdings in Amdocs by 17.5% during the first quarter. Farther Finance Advisors LLC now owns 988 shares of the technology company's stock valued at $90,000 after purchasing an additional 147 shares in the last quarter. Denali Advisors LLC lifted its holdings in shares of Amdocs by 3.6% in the first quarter. Denali Advisors LLC now owns 5,810 shares of the technology company's stock worth $532,000 after buying an additional 200 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Amdocs by 55.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company's stock worth $50,000 after buying an additional 208 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Amdocs by 13.2% in the first quarter. Allworth Financial LP now owns 1,829 shares of the technology company's stock worth $157,000 after buying an additional 213 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Amdocs by 3.1% in the first quarter. Fifth Third Bancorp now owns 7,537 shares of the technology company's stock worth $690,000 after buying an additional 225 shares in the last quarter. Institutional investors own 92.02% of the company's stock.

Amdocs Price Performance

Amdocs stock traded up $0.26 during mid-day trading on Tuesday, reaching $86.71. 172,736 shares of the company's stock traded hands, compared to its average volume of 708,460. The company has a market cap of $9.79 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 1.64 and a beta of 0.51. The stock has a 50 day moving average of $90.07 and a two-hundred day moving average of $88.77. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. Amdocs Limited has a 12-month low of $78.61 and a 12-month high of $95.41.

Amdocs (NASDAQ:DOX - Get Free Report) last posted 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 net margin of 11.94% and a return on equity of 19.66%. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the previous year, the business posted $1.62 earnings per share. The business's revenue was down 8.4% compared to the same quarter last year. Equities analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Dividend Announcement

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 dividend of $0.527 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a yield of 2.4%. Amdocs's payout ratio is 42.80%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DOX shares. Wolfe Research started coverage on shares of Amdocs in a report on Tuesday, July 8th. They issued an "outperform" rating on the stock. Wall Street Zen raised shares of Amdocs from a "hold" rating to a "buy" rating in a research note on Sunday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price 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.