Raymond James Financial Inc. Trims Stock Position in Amdocs Limited $DOX

Key Points

• Raymond James Financial Inc. has reduced its stake in Amdocs Limited by 6.8%, holding now approximately 487,154 shares valued at $44.6 million.
• Amdocs reported a quarterly revenue of $1.14 billion, exceeding estimates, but showed an 8.4% year-over-year decline in revenue.
• The company announced a quarterly dividend of $0.527, with an annualized yield of 2.4%, set to be paid on October 31st.

Raymond James Financial Inc. lessened its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 487,154 shares of the technology company's stock after selling 35,446 shares during the period. Raymond James Financial Inc. owned approximately 0.43% of Amdocs worth $44,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DOX. OneDigital Investment Advisors LLC grew its position in shares of Amdocs by 20.8% in the first quarter. OneDigital Investment Advisors LLC now owns 3,026 shares of the technology company's stock valued at $277,000 after purchasing an additional 521 shares during the period. Farther Finance Advisors LLC lifted its stake in Amdocs by 17.5% in the 1st quarter. Farther Finance Advisors LLC now owns 988 shares of the technology company's stock worth $90,000 after purchasing an additional 147 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Amdocs by 7.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,738 shares of the technology company's stock valued at $616,000 after purchasing an additional 490 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Amdocs by 55.0% in 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 last quarter. Finally, Ritholtz Wealth Management boosted its holdings in Amdocs by 18.9% in the 1st quarter. Ritholtz Wealth Management now owns 3,195 shares of the technology company's stock valued at $292,000 after purchasing an additional 507 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company's stock.

Amdocs Stock Down 0.4%

Shares of NASDAQ:DOX opened at $86.61 on Friday. The company has a market cap of $9.78 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 1.59 and a beta of 0.51. The firm's 50-day simple moving average is $89.22 and its 200-day simple moving average is $88.76. 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 Limited has a fifty-two week low of $78.61 and a fifty-two week high of $95.41.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.01. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Amdocs had a net margin of 11.94% and a return on equity of 19.66%. The business's quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.62 earnings per share. As a group, equities research analysts predict that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 annualized dividend and a dividend yield of 2.4%. Amdocs's dividend payout ratio (DPR) is 42.80%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DOX shares. 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 raised shares of Amdocs from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Amdocs has an average rating of "Buy" and a consensus target price of $105.33.

Amdocs Profile

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.

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