Amdocs Limited (NASDAQ:DOX) Shares Bought by LSV Asset Management

Key Points

• LSV Asset Management increased its stake in Amdocs Limited by 11.1% in Q1, owning approximately 2.82% of the company, worth about $291 million.
• Amdocs reported earnings of $1.78 per share in its latest quarter, surpassing estimates, but its revenue declined by 9.4% year-over-year.
• Wall Street analysts have mixed ratings on Amdocs, with a consensus rating of "Moderate Buy" and an average target price of $105.33.

LSV Asset Management increased its position in Amdocs Limited (NASDAQ:DOX - Free Report) by 11.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,180,501 shares of the technology company's stock after acquiring an additional 317,412 shares during the quarter. LSV Asset Management owned about 2.82% of Amdocs worth $291,016,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of DOX. Farther Finance Advisors LLC increased its stake in shares of Amdocs by 17.5% in the first quarter. Farther Finance Advisors LLC now owns 988 shares of the technology company's stock worth $90,000 after buying an additional 147 shares during the period. Denali Advisors LLC increased its position in Amdocs by 3.6% during the 1st quarter. Denali Advisors LLC now owns 5,810 shares of the technology company's stock valued at $532,000 after purchasing an additional 200 shares during the period. Tower Research Capital LLC TRC increased its position in Amdocs by 55.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company's stock valued at $50,000 after purchasing an additional 208 shares during the period. Allworth Financial LP increased its position in Amdocs by 13.2% during the 1st quarter. Allworth Financial LP now owns 1,829 shares of the technology company's stock valued at $157,000 after purchasing an additional 213 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of Amdocs by 3.1% during the 1st quarter. Fifth Third Bancorp now owns 7,537 shares of the technology company's stock valued at $690,000 after buying an additional 225 shares in the last quarter. 92.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DOX. Wall Street Zen cut shares of Amdocs from a "buy" rating to a "hold" rating in a research note on Saturday. Wolfe Research assumed coverage on shares of Amdocs in a research note on Tuesday, July 8th. They set an "outperform" rating on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $105.33.

Amdocs Price Performance

Shares of DOX stock traded down $0.87 on Friday, reaching $84.49. The company's stock had a trading volume of 1,027,433 shares, compared to its average volume of 664,733. The stock's fifty day simple moving average is $90.67 and its 200-day simple moving average is $88.68. Amdocs Limited has a 1 year low of $78.61 and a 1 year high of $95.41. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $9.54 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51.

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

Amdocs Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders 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 was Monday, June 30th. Amdocs's dividend payout ratio (DPR) is 44.42%.

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.