TD Asset Management Inc Has $12.61 Million Stock Holdings in Amdocs Limited $DOX

Key Points

• TD Asset Management Inc reduced its holdings in Amdocs Limited by 9.2%, ending the second quarter with approximately 138,157 shares worth about $12.61 million.
• Amdocs reported a quarterly earnings per share (EPS) of $1.72, slightly beating expectations, with revenues of $1.14 billion, though down 8.4% year-over-year.
• The company declared a quarterly dividend of $0.527 per share, with an annualized yield of 2.5%, set to be paid on October 31st.

TD Asset Management Inc trimmed its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 9.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 138,157 shares of the technology company's stock after selling 14,064 shares during the period. TD Asset Management Inc owned about 0.12% of Amdocs worth $12,605,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cornerstone Planning Group LLC acquired a new position in shares of Amdocs during the 1st quarter worth about $27,000. Quarry LP boosted its stake in shares of Amdocs by 42.2% during the 1st quarter. Quarry LP now owns 391 shares of the technology company's stock worth $36,000 after buying an additional 116 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Amdocs during the 1st quarter worth about $39,000. SVB Wealth LLC acquired a new position in shares of Amdocs during the 1st quarter worth about $43,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Amdocs by 213.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 700 shares of the technology company's stock worth $64,000 after buying an additional 477 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Trading Up 0.5%

Shares of DOX stock opened at $82.94 on Friday. The firm has a 50 day moving average price of $84.41 and a two-hundred day moving average price of $87.41. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $9.36 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 1.38 and a beta of 0.51. 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 issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.01. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Amdocs had a net margin of 11.94% and a return on equity of 19.66%. The business's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period last year, the business posted $1.62 earnings per share. As a group, analysts predict that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given 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 (DPR) is 42.80%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DOX. Weiss Ratings restated a "hold (c+)" rating on shares of Amdocs in a research note on Wednesday, October 8th. Wolfe Research initiated coverage on shares of Amdocs in a research note on Tuesday, July 8th. They issued an "outperform" rating for the company. Finally, Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a research note on Saturday, October 11th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Amdocs currently has a consensus rating of "Moderate Buy" and a consensus price target of $108.00.

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.

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