Vanguard Group Inc. Lowers Stake in Amdocs Limited $DOX

Key Points

• Vanguard Group Inc. reduced its stake in Amdocs Limited (NASDAQ:DOX) by 0.9%, now holding approximately $278.78 million worth of shares.
• Multiple hedge funds, such as LSV Asset Management and Alyeska Investment Group L.P., significantly increased their investments in Amdocs, reflecting strong institutional interest in the company.
• Amdocs reported earnings of $1.72 per share for the last quarter, exceeding expectations, and has announced a quarterly dividend yielding 2.4% to be paid out soon.

Vanguard Group Inc. lessened its position in Amdocs Limited (NASDAQ:DOX - Free Report) by 0.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,046,756 shares of the technology company's stock after selling 27,668 shares during the quarter. Vanguard Group Inc. owned about 2.70% of Amdocs worth $278,778,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cornerstone Planning Group LLC acquired a new position in Amdocs in the first quarter valued at about $27,000. AdvisorNet Financial Inc raised its stake in shares of Amdocs by 382.9% during the first 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. bought a new stake in shares of Amdocs during the first quarter worth approximately $31,000. Cullen Frost Bankers Inc. acquired a new position in shares of Amdocs in the first quarter valued at approximately $39,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Amdocs by 55.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company's stock worth $50,000 after purchasing an additional 208 shares during the last quarter. Institutional investors own 92.02% of the company's stock.

Analyst Upgrades and Downgrades

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

Amdocs Stock Down 0.5%

DOX traded down $0.40 during midday trading on Thursday, hitting $86.52. The company had a trading volume of 235,416 shares, compared to its average volume of 715,933. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $9.77 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 1.60 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 stock's 50 day moving average price is $89.37 and its 200 day moving average price is $88.76.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.01. Amdocs had a net margin of 11.94% and a return on equity of 19.66%. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the prior year, the company posted $1.62 EPS. The firm's revenue for the quarter was down 8.4% compared to the same quarter last year. On average, research analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, September 30th. Amdocs's dividend payout ratio is presently 42.60%.

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.