Systematic Financial Management LP Has $669,000 Holdings in Amdocs Limited $DOX

Key Points

• Systematic Financial Management LP significantly reduced its holdings in Amdocs Limited by 70.9%, selling 17,783 shares in the first quarter and now owning 7,309 shares worth approximately $669,000.
• Amdocs Limited received an upgrade from a "hold" to a "buy" rating by Wall Street Zen, with four analysts currently giving it a consensus rating of "Buy" and a price target of $105.33.
• The company declared a quarterly dividend of $0.527 per share, with an annualized yield of 2.4%, set to be paid on October 31st to shareholders on record as of September 30th.

Systematic Financial Management LP cut its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 70.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,309 shares of the technology company's stock after selling 17,783 shares during the period. Systematic Financial Management LP's holdings in Amdocs were worth $669,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. LSV Asset Management lifted its position in Amdocs by 11.1% during the 1st quarter. LSV Asset Management now owns 3,180,501 shares of the technology company's stock valued at $291,016,000 after purchasing an additional 317,412 shares during the period. American Century Companies Inc. lifted its position in Amdocs by 23.5% during the 1st quarter. American Century Companies Inc. now owns 2,242,829 shares of the technology company's stock valued at $205,219,000 after purchasing an additional 426,911 shares during the period. Dimensional Fund Advisors LP lifted its position in Amdocs by 9.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,120,075 shares of the technology company's stock valued at $193,978,000 after purchasing an additional 182,489 shares during the period. Alyeska Investment Group L.P. lifted its position in Amdocs by 86.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company's stock valued at $143,127,000 after purchasing an additional 781,061 shares during the period. Finally, Brown Advisory Inc. lifted its position in Amdocs by 4.7% during the 4th quarter. Brown Advisory Inc. now owns 938,918 shares of the technology company's stock valued at $79,939,000 after purchasing an additional 41,846 shares during the period. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Amdocs in a research report on Tuesday, July 8th. They issued an "outperform" rating on the stock. Wall Street Zen raised Amdocs from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Amdocs currently has an average rating of "Buy" and an average target price of $105.33.

Amdocs Stock Down 2.9%

Shares of DOX traded down $2.54 during mid-day trading on Thursday, hitting $84.59. 1,359,687 shares of the company's stock were exchanged, compared to its average volume of 723,748. The company has a market cap of $9.55 billion, a PE ratio of 17.16, a P/E/G ratio of 1.58 and a beta of 0.51. Amdocs Limited has a 52 week low of $78.61 and a 52 week high of $95.41. The company has a 50-day simple moving average of $88.79 and a 200 day simple moving average of $88.77. 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 (NASDAQ:DOX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.71 by $0.01. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate 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 in the prior year, the firm posted $1.62 EPS. On average, research analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The business also recently disclosed 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. This represents a $2.11 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Amdocs's dividend payout ratio is presently 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.