Wealth Enhancement Advisory Services LLC Has $4.39 Million Stock Position in Amdocs Limited (NASDAQ:DOX)

Wealth Enhancement Advisory Services LLC cut its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 29.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Axxcess Wealth Management LLC lifted its stake in Amdocs by 5.4% during the fourth quarter. Axxcess Wealth Management LLC now owns 2,431 shares of the technology company's stock valued at $207,000 after purchasing an additional 124 shares during the last quarter. Principal Securities Inc. lifted its stake in Amdocs by 10.4% during the fourth quarter. Principal Securities Inc. now owns 1,341 shares of the technology company's stock valued at $114,000 after purchasing an additional 126 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Amdocs by 17.5% during the first quarter. Farther Finance Advisors LLC now owns 988 shares of the technology company's stock valued at $90,000 after purchasing an additional 147 shares during the last quarter. Global Retirement Partners LLC raised its holdings 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 acquiring an additional 175 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Amdocs by 55.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company's stock valued at $50,000 after acquiring an additional 208 shares during the period. 92.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a report on Saturday, June 7th.

Amdocs Trading Down 0.4%

Shares of DOX stock traded down $0.36 during trading hours on Friday, reaching $91.01. 1,723,320 shares of the stock traded hands, compared to its average volume of 665,315. Amdocs Limited has a 1-year low of $77.17 and a 1-year high of $95.41. The business has a fifty day moving average price of $90.63 and a 200 day moving average price of $88.02. 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 market capitalization of $10.27 billion, a PE ratio of 19.16, a PEG ratio of 1.50 and a beta of 0.52.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.71 by $0.07. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Amdocs had a net margin of 11.39% and a return on equity of 19.52%. The firm's revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.56 earnings per share. On average, equities research analysts forecast 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. Shareholders 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 annualized dividend and a yield of 2.32%. Amdocs's dividend payout ratio is presently 44.42%.

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.