Tidal Investments LLC Purchases 164,415 Shares of Amdocs Limited $DOX

Key Points

• Tidal Investments increased its Amdocs stake by 152.3% in the second quarter, adding 164,415 shares and bringing its holdings to 272,345 shares worth approximately $13.8 million. Institutional investors collectively own 92.02% of Amdocs.
• Amdocs reported quarterly EPS of $1.84, in line with analyst expectations, while revenue of $1.17 billion fell slightly short of estimates but rose 2.7% year over year.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $86.67. Amdocs also declared a quarterly dividend of $0.569 per share, representing a 3.7% annualized yield.

Tidal Investments LLC boosted its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 152.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 272,345 shares of the technology company's stock after acquiring an additional 164,415 shares during the quarter. Tidal Investments LLC owned 0.25% of Amdocs worth $13,764,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in shares of Amdocs by 14.9% in the first quarter. Royal Bank of Canada now owns 446,125 shares of the technology company's stock worth $29,114,000 after buying an additional 57,740 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Amdocs by 429.6% during the first quarter. Renaissance Technologies LLC now owns 291,800 shares of the technology company's stock valued at $19,043,000 after buying an additional 236,700 shares during the last quarter. BNP Paribas Financial Markets raised its position in Amdocs by 85.4% in the fourth quarter. BNP Paribas Financial Markets now owns 201,982 shares of the technology company's stock worth $16,262,000 after acquiring an additional 93,036 shares during the period. Arbejdsmarkedets Tillaegspension raised its position in Amdocs by 17.5% in the first quarter. Arbejdsmarkedets Tillaegspension now owns 354,383 shares of the technology company's stock worth $23,127,000 after acquiring an additional 52,906 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Amdocs by 29.1% during the 1st quarter. Bank of America Corp DE now owns 1,262,263 shares of the technology company's stock worth $82,375,000 after acquiring an additional 284,435 shares during the last quarter. Institutional investors own 92.02% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on DOX. Weiss Ratings restated a "hold (c-)" rating on shares of Amdocs in a research note on Wednesday, August 5th. Wall Street Zen raised Amdocs from a "hold" rating to a "buy" rating in a report on Saturday, August 29th. Finally, KeyCorp assumed coverage on Amdocs in a research report on Monday, June 29th. They issued a "sector weight" rating for the company. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $86.67.

Amdocs Trading Up 1.9%

Shares of NASDAQ DOX opened at $61.42 on Friday. Amdocs Limited has a fifty-two week low of $49.74 and a fifty-two week high of $85.66. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.05 and a beta of 0.42. The business's 50 day moving average price is $57.16 and its 200-day moving average price is $60.62.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The technology company reported $1.84 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.84. Amdocs had a return on equity of 20.28% and a net margin of 9.75%.The company had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.18 billion. During the same quarter in the previous year, the business earned $1.72 EPS. Amdocs's revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts expect that Amdocs Limited will post 6.56 earnings per share for the current year.

Amdocs Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be issued a $0.569 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.7%. Amdocs's dividend payout ratio is presently 54.29%.

Amdocs Company Profile

Amdocs Limited NASDAQ: DOX is a global provider of software and technology services for communications, media and entertainment companies. Its solutions help service providers manage customer relationships, product offerings, billing, ordering, network operations and digital experiences.

The company offers cloud-based and software-as-a-service platforms spanning business and operational support systems, customer experience management, monetization, network automation, data and artificial intelligence.

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