Pzena Investment Management LLC Sells 215,947 Shares of Amdocs Limited (NASDAQ:DOX)

Pzena Investment Management LLC lessened its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,418,602 shares of the technology company's stock after selling 215,947 shares during the quarter. Amdocs makes up approximately 2.1% of Pzena Investment Management LLC's investment portfolio, making the stock its 21st largest position. Pzena Investment Management LLC owned 5.69% of Amdocs worth $587,302,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Cornerstone Planning Group LLC acquired a new stake in Amdocs during the 1st quarter valued at approximately $27,000. AdvisorNet Financial Inc increased its position in Amdocs by 382.9% during the 1st quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock valued at $31,000 after purchasing an additional 268 shares during the period. NBC Securities Inc. acquired a new stake in Amdocs during the 1st quarter valued at approximately $31,000. Jones Financial Companies Lllp acquired a new stake in Amdocs during the 4th quarter valued at approximately $36,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in Amdocs during the 1st quarter valued at approximately $39,000. Institutional investors own 92.02% of the company's stock.

Amdocs Trading Up 0.2%

Shares of DOX stock traded up $0.14 during trading hours on Thursday, hitting $89.31. 453,256 shares of the company were exchanged, compared to its average volume of 664,323. The company has a 50 day simple moving average of $91.56 and a two-hundred day simple moving average of $88.37. Amdocs Limited has a fifty-two week low of $78.61 and a fifty-two week high of $95.41. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $10.08 billion, a P/E ratio of 18.80, a P/E/G ratio of 1.47 and a beta of 0.52.

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

Amdocs Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, June 30th will be given a $0.527 dividend. This represents a $2.11 annualized dividend and a yield of 2.36%. The ex-dividend date is Monday, June 30th. Amdocs's payout ratio is currently 44.42%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DOX. Wall Street Zen raised shares of Amdocs from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Wolfe Research began coverage on shares of Amdocs in a research report on Tuesday, July 8th. They set an "outperform" rating for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Amdocs currently 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.