Voya Investment Management LLC Decreases Stake in Amdocs Limited $DOX

Key Points

• Voya Investment Management LLC reduced its holdings in Amdocs Limited by 3.7%, owning 103,079 shares worth approximately $9.43 million at the end of the first quarter.
• Recent analyst upgrades have raised the stock's rating from "hold" to "buy," with a consensus price target of $105.33 and four analysts currently rating the stock as a Buy.
• Amdocs recently announced a quarterly dividend of $0.527 per share, which translates to an annualized dividend yield of 2.5% with a payout ratio of 42.80%.

Voya Investment Management LLC reduced its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,079 shares of the technology company's stock after selling 3,912 shares during the quarter. Voya Investment Management LLC owned about 0.09% of Amdocs worth $9,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of DOX. LSV Asset Management lifted its position in Amdocs by 11.1% in the first quarter. LSV Asset Management now owns 3,180,501 shares of the technology company's stock worth $291,016,000 after buying an additional 317,412 shares during the last quarter. Alyeska Investment Group L.P. grew its stake in Amdocs by 38.6% in the first quarter. Alyeska Investment Group L.P. now owns 2,329,767 shares of the technology company's stock valued at $213,174,000 after purchasing an additional 648,693 shares during the last quarter. American Century Companies Inc. grew its stake in Amdocs by 23.5% in the first quarter. American Century Companies Inc. now owns 2,242,829 shares of the technology company's stock valued at $205,219,000 after purchasing an additional 426,911 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Amdocs by 9.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,120,075 shares of the technology company's stock valued at $193,978,000 after purchasing an additional 182,489 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Amdocs by 43.0% during the first quarter. AQR Capital Management LLC now owns 955,158 shares of the technology company's stock worth $86,719,000 after acquiring an additional 287,243 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Amdocs Trading Down 0.8%

Shares of NASDAQ DOX traded down $0.70 during mid-day trading on Friday, reaching $83.79. 1,066,788 shares of the company's stock were exchanged, compared to its average volume of 766,165. The firm has a market capitalization of $9.46 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 1.54 and a beta of 0.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22. Amdocs Limited has a 52-week low of $78.61 and a 52-week high of $95.41. The company's 50-day moving average is $86.52 and its 200-day moving average is $88.43.

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

Amdocs Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, September 30th. Amdocs's dividend payout ratio (DPR) is 42.80%.

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.