Valley Wealth Managers Inc. Sells 179,552 Shares of Amdocs Limited $DOX

Key Points

• Valley Wealth Managers cut its Amdocs stake by 79.6% in the first quarter, selling 179,552 shares and leaving it with 45,966 shares valued at about $3.0 million.
• Amdocs has mixed analyst sentiment: several firms recently maintained or changed ratings, and the stock’s overall consensus is Hold with an average price target of $86.67.
• The company recently beat earnings expectations by a penny and declared a quarterly dividend of $0.569 per share, implying a 4.3% annualized yield.

Valley Wealth Managers Inc. decreased its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 79.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,966 shares of the technology company's stock after selling 179,552 shares during the quarter. Valley Wealth Managers Inc.'s holdings in Amdocs were worth $3,000,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. WealthCollab LLC boosted its holdings in Amdocs by 94.5% in the third quarter. WealthCollab LLC now owns 356 shares of the technology company's stock worth $29,000 after purchasing an additional 173 shares in the last quarter. BOK Financial Private Wealth Inc. acquired a new position in Amdocs during the fourth quarter worth $37,000. Los Angeles Capital Management LLC bought a new position in Amdocs during the fourth quarter valued at about $39,000. Advisory Services Network LLC bought a new position in Amdocs during the third quarter valued at about $42,000. Finally, CIBC Private Wealth Group LLC lifted its position in shares of Amdocs by 190.2% in the third quarter. CIBC Private Wealth Group LLC now owns 595 shares of the technology company's stock worth $49,000 after buying an additional 390 shares during the last quarter. Institutional investors own 92.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Weiss Ratings reiterated a "hold (c-)" rating on shares of Amdocs in a research note on Friday, May 8th. Wall Street Zen downgraded Amdocs from a "buy" rating to a "hold" rating in a research note on Sunday, July 5th. KeyCorp initiated coverage on Amdocs in a report on Monday, June 29th. They issued a "sector weight" rating for the company. Stifel Nicolaus lowered their price target on Amdocs from $88.00 to $71.00 and set a "buy" rating on the stock in a report on Thursday, May 14th. Finally, Cfra lowered shares of Amdocs to a "sell" rating in a research report on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Amdocs has an average rating of "Hold" and an average target price of $86.67.

Amdocs Stock Down 0.5%

DOX stock opened at $52.63 on Friday. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 10.53, a price-to-earnings-growth ratio of 0.91 and a beta of 0.41. The company has a 50-day moving average of $56.61 and a two-hundred day moving average of $66.21. Amdocs Limited has a 52-week low of $49.79 and a 52-week high of $90.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The technology company reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.01. Amdocs had a return on equity of 19.77% and a net margin of 11.81%.The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $1.78 earnings per share. The firm's revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts anticipate that Amdocs Limited will post 6.56 EPS for the current year.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a $0.569 dividend. This represents a $2.28 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, June 30th. Amdocs's payout ratio is currently 45.60%.

About Amdocs

Amdocs NASDAQ: DOX is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs' product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra'anana, Israel.

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