Panagora Asset Management Inc. Trims Stake in Amdocs Limited $DOX

Key Points

• Panagora Asset Management Inc. reduced its stake in Amdocs Limited by 27.6%, leaving them with 31,682 shares valued at approximately $2.9 million.
• Amdocs currently holds an average analyst rating of "Buy" with a consensus target price of $105.33 following multiple upgrades from research analysts.
• The company is set to pay a quarterly dividend of $0.527 on October 31, representing an annualized yield of 2.5%.

Panagora Asset Management Inc. lowered its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 27.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,682 shares of the technology company's stock after selling 12,090 shares during the period. Panagora Asset Management Inc.'s holdings in Amdocs were worth $2,899,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. LSV Asset Management raised its holdings in Amdocs by 11.1% in the first quarter. LSV Asset Management now owns 3,180,501 shares of the technology company's stock worth $291,016,000 after purchasing an additional 317,412 shares in the last quarter. American Century Companies Inc. boosted its holdings in Amdocs by 23.5% in the first quarter. American Century Companies Inc. now owns 2,242,829 shares of the technology company's stock worth $205,219,000 after purchasing an additional 426,911 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Amdocs by 9.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,120,075 shares of the technology company's stock valued at $193,978,000 after acquiring an additional 182,489 shares during the last quarter. Northern Trust Corp lifted its holdings in Amdocs by 4.5% in the first quarter. Northern Trust Corp now owns 920,723 shares of the technology company's stock valued at $84,246,000 after acquiring an additional 39,915 shares during the period. Finally, DigitalBridge Group Inc. boosted its position in Amdocs by 13.6% in the fourth quarter. DigitalBridge Group Inc. now owns 759,272 shares of the technology company's stock worth $64,644,000 after purchasing an additional 90,652 shares during the last quarter. Institutional investors own 92.02% of the company's stock.

Amdocs Price Performance

NASDAQ DOX traded up $1.40 on Friday, reaching $86.00. The company had a trading volume of 558,592 shares, compared to its average volume of 883,180. The stock has a market capitalization of $9.71 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 1.54 and a beta of 0.54. The firm's 50 day moving average price is $87.87 and its 200 day moving average price is $88.66. The company has a quick ratio of 1.22, 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 issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.01. Amdocs had a return on equity of 19.66% and a net margin of 11.94%.The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same period in the prior year, the firm earned $1.62 EPS. The company's revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities analysts predict that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Announces Dividend

The firm also recently announced 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. This represents a $2.11 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 30th. Amdocs's payout ratio is 42.80%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DOX. Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a research note 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 on the stock. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, Amdocs presently has a consensus rating of "Buy" and an average 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.