Russell Investments Group Ltd. Sells 65,002 Shares of Amdocs Limited (NASDAQ:DOX)

Key Points

• Russell Investments Group Ltd. has reduced its stake in Amdocs Limited by 6.6%, selling 65,002 shares, and now owns approximately 914,859 shares worth about $83.7 million.
• Amdocs recently announced a quarterly dividend of $0.527 per share, with an ex-dividend date of September 30th, representing an annualized payout of $2.11 and a yield of 2.4%.
• Analysts have upgraded Amdocs from a "hold" to a "buy" rating, with a consensus target price set at $105.33, amid solid earnings performance and an ongoing focus on growth.

Russell Investments Group Ltd. trimmed its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 6.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 914,859 shares of the technology company's stock after selling 65,002 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.81% of Amdocs worth $83,709,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC bought a new position in shares of Amdocs in the first quarter worth about $27,000. AdvisorNet Financial Inc raised its stake in shares of Amdocs by 382.9% in the first quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock worth $31,000 after buying an additional 268 shares during the period. NBC Securities Inc. purchased a new stake in shares of Amdocs during the first quarter worth about $31,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Amdocs during the first quarter worth about $39,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Amdocs by 55.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company's stock worth $50,000 after purchasing an additional 208 shares in the last quarter. 92.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Amdocs Price Performance

NASDAQ DOX traded up $0.01 during trading on Friday, hitting $87.36. 773,494 shares of the stock traded hands, compared to its average volume of 826,057. The company has a market capitalization of $9.86 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 1.60 and a beta of 0.51. The firm has a 50-day simple moving average of $89.72 and a 200-day simple moving average of $88.78. 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 12-month low of $78.61 and a 12-month high of $95.41.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly 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 during the quarter, compared to analysts' expectations of $1.13 billion. Amdocs had a return on equity of 19.66% and a net margin of 11.94%. The firm's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.62 EPS. As a group, analysts predict that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a $0.527 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.4%. Amdocs's payout ratio is 42.80%.

Amdocs Company 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.