Sowell Financial Services LLC Purchases Shares of 7,685 Amdocs Limited (NASDAQ:DOX)

Sowell Financial Services LLC purchased a new stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 7,685 shares of the technology company's stock, valued at approximately $703,000.

A number of other institutional investors have also added to or reduced their stakes in DOX. AdvisorNet Financial Inc grew its stake in shares of Amdocs by 382.9% during 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 last quarter. NBC Securities Inc. acquired a new stake in shares of Amdocs during the 1st quarter valued at $31,000. Jones Financial Companies Lllp bought a new stake in Amdocs during the 4th quarter worth $36,000. SBI Securities Co. Ltd. acquired a new position in Amdocs in the 4th quarter worth about $41,000. Finally, Global Retirement Partners LLC raised its position in Amdocs by 45.6% in the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company's stock valued at $48,000 after purchasing an additional 175 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Trading Down 1.2%

Shares of DOX stock traded down $1.13 during trading hours on Friday, hitting $91.23. 786,300 shares of the company's stock traded hands, compared to its average volume of 670,061. The stock has a market cap of $10.30 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.53 and a beta of 0.52. The stock's 50 day simple moving average is $89.69 and its 200 day simple moving average is $87.82. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.21. Amdocs Limited has a 12 month low of $76.16 and a 12 month high of $94.61.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The technology company reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.71 by $0.07. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Amdocs had a return on equity of 19.52% and a net margin of 11.39%. Amdocs's quarterly revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.56 earnings per share. On average, sell-side analysts anticipate that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.527 per share. The ex-dividend date is Monday, June 30th. This represents a $2.11 annualized dividend and a yield of 2.31%. Amdocs's payout ratio is 44.42%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Amdocs from a "hold" rating to a "buy" rating in a report on Saturday, June 7th.

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.