Royal Bank of Canada Sells 5,282 Shares of Amdocs Limited $DOX

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 lessened its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 369,880 shares of the technology company's stock after selling 5,282 shares during the period. Royal Bank of Canada owned about 0.33% of Amdocs worth $33,844,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC bought a new position in Amdocs during the 1st quarter worth about $27,000. AdvisorNet Financial Inc grew its holdings in shares of Amdocs by 382.9% in 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. bought a new position in Amdocs in the first quarter valued at approximately $31,000. Quarry LP grew its stake in Amdocs by 42.2% in the first quarter. Quarry LP now owns 391 shares of the technology company's stock valued at $36,000 after purchasing an additional 116 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in Amdocs in the first quarter valued at approximately $39,000. Institutional investors own 92.02% of the company's stock.

Wall Street Analyst Weigh In

DOX has been the subject of a number of analyst reports. Wall Street Zen upgraded Amdocs from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Wolfe Research initiated coverage on Amdocs in a research report on Tuesday, July 8th. They set an "outperform" rating on the stock. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $105.33.

Amdocs Trading Down 0.1%

DOX traded down $0.05 during midday trading on Tuesday, hitting $85.75. 695,028 shares of the company were exchanged, compared to its average volume of 848,454. The firm has a market capitalization of $9.68 billion, a P/E ratio of 17.39, a P/E/G ratio of 1.56 and a beta of 0.54. Amdocs Limited has a 1-year low of $78.61 and a 1-year high of $95.41. The firm's 50 day moving average price is $87.64 and its 200-day moving average price is $88.61. 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 (NASDAQ:DOX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The technology company reported $1.72 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 firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business earned $1.62 EPS. The business's quarterly revenue was down 8.4% compared to the same quarter last year. As a group, equities analysts forecast that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.527 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.11 annualized dividend and a yield of 2.5%. Amdocs's dividend payout ratio 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.