Northwest & Ethical Investments L.P. Sells 35,343 Shares of Amdocs Limited $DOX

Key Points

• Northwest & Ethical Investments L.P. reduced its stake in Amdocs Limited by 18.6%, now holding approximately $14.16 million worth of shares.
• Several institutional investors, including LSV Asset Management and American Century Companies Inc., have increased their stakes in Amdocs, indicating strong institutional interest.
• Amdocs recently reported earnings of $1.72 per share, slightly exceeding expectations, despite seeing an 8.4% decrease in revenue year-over-year.

Northwest & Ethical Investments L.P. reduced its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 18.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 154,707 shares of the technology company's stock after selling 35,343 shares during the quarter. Northwest & Ethical Investments L.P. owned about 0.14% of Amdocs worth $14,156,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in DOX. Alyeska Investment Group L.P. grew its position in shares of Amdocs by 86.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company's stock valued at $143,127,000 after purchasing an additional 781,061 shares during the last quarter. American Century Companies Inc. grew its position in shares of Amdocs by 23.5% in the first quarter. American Century Companies Inc. now owns 2,242,829 shares of the technology company's stock valued at $205,219,000 after purchasing an additional 426,911 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Amdocs in the first quarter valued at about $36,921,000. The Manufacturers Life Insurance Company grew its position in shares of Amdocs by 2,489.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 376,383 shares of the technology company's stock valued at $32,045,000 after purchasing an additional 361,845 shares during the last quarter. Finally, LSV Asset Management grew its position in shares of Amdocs by 11.1% in the first quarter. LSV Asset Management now owns 3,180,501 shares of the technology company's stock valued at $291,016,000 after purchasing an additional 317,412 shares during the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Price Performance

Shares of NASDAQ:DOX traded down $0.53 during trading on Wednesday, reaching $86.92. The stock had a trading volume of 874,316 shares, compared to its average volume of 719,065. Amdocs Limited has a 52 week low of $78.61 and a 52 week high of $95.41. The business's 50-day moving average price is $89.50 and its 200 day moving average price is $88.77. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.16. The stock has a market capitalization of $9.81 billion, a PE ratio of 17.63, a P/E/G ratio of 1.59 and a beta of 0.51.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share (EPS) 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 company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the previous year, the company posted $1.62 earnings per share. Amdocs's quarterly revenue was down 8.4% compared to the same quarter last year. As a group, equities analysts predict that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a $0.527 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.4%. Amdocs's payout ratio is 42.80%.

Analyst Upgrades and Downgrades

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