Amdocs Limited $DOX Stock Position Lowered by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P reduced its holdings in Amdocs Limited by 6.8%, now owning approximately 0.22% of the company, valued at $23,055,000.
• Amdocs recently received a Buy rating upgrade from Wall Street Zen, with four research analysts currently rating the stock with a Buy and an average price target of $105.33.
• The company declared a quarterly dividend of $0.527 per share, which will be paid on October 31st, representing an annualized yield of 2.4%.

Martingale Asset Management L P trimmed its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 6.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 251,966 shares of the technology company's stock after selling 18,294 shares during the period. Martingale Asset Management L P owned 0.22% of Amdocs worth $23,055,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC acquired a new stake in shares of Amdocs in the first quarter worth approximately $27,000. AdvisorNet Financial Inc boosted its holdings in Amdocs by 382.9% in the 1st quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock worth $31,000 after acquiring an additional 268 shares during the period. NBC Securities Inc. acquired a new position in shares of Amdocs during the first quarter worth $31,000. Cullen Frost Bankers Inc. purchased a new position in shares of Amdocs in the first quarter valued at $39,000. Finally, Tower Research Capital LLC TRC grew its holdings 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 in the last quarter. Hedge funds and other institutional investors own 92.02% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. 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 upgraded Amdocs from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $105.33.

Amdocs Stock Performance

DOX stock traded up $1.66 during trading on Friday, reaching $88.27. 700,056 shares of the company's stock were exchanged, compared to its average volume of 867,027. Amdocs Limited has a 1-year low of $78.61 and a 1-year high of $95.41. The firm has a market cap of $9.96 billion, a PE ratio of 17.90, a P/E/G ratio of 1.61 and a beta of 0.51. The company's fifty day moving average price is $89.14 and its 200-day moving average price is $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 (NASDAQ:DOX - Get Free Report) last issued 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. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.13 billion. Amdocs had a net margin of 11.94% and a return on equity of 19.66%. The company's revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.62 earnings per share. On average, research analysts expect that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Dividend Announcement

The business 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 $0.527 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.11 annualized dividend and a dividend yield of 2.4%. Amdocs's dividend payout ratio (DPR) is 42.80%.

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.