Raymond James Financial Inc. Sells 35,446 Shares of 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. reduced its position in Amdocs Limited (NASDAQ:DOX - Free Report) by 6.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 487,154 shares of the technology company's stock after selling 35,446 shares during the period. Raymond James Financial Inc. owned 0.43% of Amdocs worth $44,575,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC purchased a new position in Amdocs during the 1st quarter valued at about $27,000. AdvisorNet Financial Inc grew its holdings 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 buying an additional 268 shares in the last quarter. NBC Securities Inc. purchased a new position in Amdocs during the 1st quarter valued at about $31,000. Cullen Frost Bankers Inc. purchased a new position in Amdocs during the 1st quarter valued at about $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 buying an additional 208 shares in the last quarter. 92.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wall Street Zen raised Amdocs from a "hold" rating to a "buy" rating in a report on Sunday, August 10th. Wolfe Research assumed coverage on Amdocs in a report on Tuesday, July 8th. They set an "outperform" rating for the company. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $105.33.

Amdocs Price Performance

Shares of DOX traded up $0.59 during trading hours on Wednesday, reaching $87.13. 1,088,246 shares of the company's stock traded hands, compared to its average volume of 879,226. The stock has a market cap of $9.84 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 1.58 and a beta of 0.51. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23. The firm's 50 day simple moving average is $88.79 and its 200-day simple moving average is $88.77. 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 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. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Amdocs had a return on equity of 19.66% and a net margin of 11.94%.The company's revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter last year, the company posted $1.62 EPS. Equities analysts expect 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, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, September 30th. Amdocs's dividend payout ratio (DPR) is 42.80%.

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.