Victory Capital Management Inc. Decreases Stake in Amdocs Limited (NASDAQ:DOX)

Victory Capital Management Inc. trimmed its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 484,655 shares of the technology company's stock after selling 8,392 shares during the period. Victory Capital Management Inc. owned approximately 0.43% of Amdocs worth $44,346,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alyeska Investment Group L.P. lifted its position in Amdocs by 86.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company's stock worth $143,127,000 after buying an additional 781,061 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Amdocs by 25.4% in the fourth quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company's stock valued at $228,211,000 after acquiring an additional 543,490 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Amdocs by 16.1% in the fourth quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company's stock valued at $261,756,000 after acquiring an additional 426,035 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Amdocs by 2,489.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 376,383 shares of the technology company's stock valued at $32,045,000 after acquiring an additional 361,845 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Amdocs by 32.8% in the fourth quarter. Russell Investments Group Ltd. now owns 979,861 shares of the technology company's stock valued at $83,426,000 after acquiring an additional 242,093 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Price Performance

Shares of DOX traded up $0.23 on Wednesday, reaching $89.71. The stock had a trading volume of 802,305 shares, compared to its average volume of 668,290. The firm has a market capitalization of $10.13 billion, a PE ratio of 18.89, a PEG ratio of 1.48 and a beta of 0.52. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average of $91.33 and a 200 day moving average of $88.52. Amdocs Limited has a twelve month low of $78.61 and a twelve month high of $95.41.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.07. Amdocs had a return on equity of 19.52% and a net margin of 11.39%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the firm posted $1.56 EPS. The company's quarterly revenue was down 9.4% compared to the same quarter last year. Sell-side analysts expect that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.527 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.11 annualized dividend and a dividend yield of 2.35%. Amdocs's dividend payout ratio is presently 44.21%.

Analyst Upgrades and Downgrades

DOX has been the subject of several research reports. Wolfe Research initiated coverage on shares of Amdocs in a research note on Tuesday, July 8th. They issued an "outperform" rating for the company. Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Amdocs presently has an average rating of "Buy" and an average target price of $105.33.

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.