Amdocs Limited $DOX Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada reduced its stake in Amdocs Limited by 1.4%, selling 5,282 shares, and now holds approximately 369,880 shares valued at $33,844,000.
• Several institutional investors have increased their holdings in Amdocs, with Jane Street Group raising its stake by 111.9% to own 39,246 shares worth $3,341,000.
• Amdocs announced a quarterly dividend of $0.527 per share, with a yield of 2.5%, set to be paid on October 31st.

Royal Bank of Canada reduced its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 369,880 shares of the technology company's stock after selling 5,282 shares during the quarter. Royal Bank of Canada owned 0.33% of Amdocs worth $33,844,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in DOX. Cornerstone Planning Group LLC acquired a new stake in shares of Amdocs during the 1st quarter valued at approximately $27,000. AdvisorNet Financial Inc raised its position in shares of 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 acquiring an additional 268 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Amdocs during the 1st quarter valued at approximately $31,000. Quarry LP raised its position in shares of Amdocs by 42.2% during the 1st quarter. Quarry LP now owns 391 shares of the technology company's stock valued at $36,000 after acquiring an additional 116 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Amdocs during the 1st quarter valued at approximately $39,000. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports 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 Amdocs in a research report on Tuesday, July 8th. They issued an "outperform" rating on the stock. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Amdocs presently has an average rating of "Buy" and a consensus price target of $105.33.

Amdocs Stock Performance

Shares of DOX traded down $0.33 during trading hours on Friday, reaching $85.00. 555,419 shares of the company's stock traded hands, compared to its average volume of 810,267. The firm has a market capitalization of $9.60 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 1.56 and a beta of 0.54. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. Amdocs Limited has a twelve month low of $78.61 and a twelve month high of $95.41. The business's fifty day simple moving average is $87.18 and its two-hundred day simple moving average is $88.53.

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

Amdocs Announces Dividend

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 issued a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Amdocs's dividend payout ratio (DPR) is 42.80%.

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.