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

Sowell Financial Services LLC bought a new position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,685 shares of the technology company's stock, valued at approximately $703,000.

Other large investors also recently bought and sold shares of the company. AdvisorNet Financial Inc grew its stake in Amdocs by 382.9% during the 1st 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 in the first quarter valued at approximately $31,000. Jones Financial Companies Lllp purchased a new position in shares of Amdocs during the fourth quarter worth approximately $36,000. SBI Securities Co. Ltd. acquired a new position in shares of Amdocs in the 4th quarter valued at $41,000. Finally, Global Retirement Partners LLC raised its position in Amdocs by 45.6% in the 4th 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. Hedge funds and other institutional investors own 92.02% of the company's stock.

Analysts Set New Price Targets

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

Amdocs Stock Up 0.8%

Shares of NASDAQ DOX traded up $0.70 during trading on Monday, reaching $91.93. 579,885 shares of the stock were exchanged, compared to its average volume of 665,866. The company has a market capitalization of $10.38 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 1.51 and a beta of 0.52. The business's 50-day moving average price is $89.85 and its 200 day moving average price is $87.86. 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 twelve month low of $77.17 and a twelve month high of $94.61.

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

Amdocs Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, June 30th will be paid a $0.527 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a yield of 2.29%. Amdocs's payout ratio is currently 44.42%.

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.