Wealth Enhancement Advisory Services LLC Sells 20,440 Shares of Amdocs Limited (NASDAQ:DOX)

Wealth Enhancement Advisory Services LLC decreased its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 29.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,021 shares of the technology company's stock after selling 20,440 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Amdocs were worth $4,394,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AdvisorNet Financial Inc lifted its position in Amdocs by 382.9% during the first quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock valued at $31,000 after buying an additional 268 shares during the period. NBC Securities Inc. purchased a new position in Amdocs during the 1st quarter valued at about $31,000. Jones Financial Companies Lllp bought a new stake in Amdocs during the fourth quarter worth about $36,000. SBI Securities Co. Ltd. purchased a new stake in Amdocs in the fourth quarter worth about $41,000. Finally, Global Retirement Partners LLC increased its stake in shares of Amdocs by 45.6% during the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company's stock valued at $48,000 after purchasing an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 92.02% of the company's stock.

Amdocs Stock Down 0.4%

Shares of NASDAQ DOX traded down $0.36 during midday trading on Friday, hitting $91.01. The stock had a trading volume of 1,723,320 shares, compared to its average volume of 669,439. The business's 50 day moving average is $90.48 and its 200-day moving average is $87.98. Amdocs Limited has a 52 week low of $77.17 and a 52 week high of $95.41. 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 company has a market cap of $10.27 billion, a P/E ratio of 19.16, a PEG ratio of 1.51 and a beta of 0.52.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share 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 analysts' expectations of $1.12 billion. During the same quarter in the previous year, the business earned $1.56 earnings per share. The company's revenue was down 9.4% on a year-over-year basis. As a group, analysts predict that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, June 30th will be paid a $0.527 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.32%. Amdocs's dividend payout ratio is presently 44.42%.

Analyst Ratings Changes

Separately, Wall Street Zen raised Amdocs from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th.

About Amdocs

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.