Wedge Capital Management L L P NC Has $64.87 Million Stock Position in Amdocs Limited $DOX

Key Points

• Wedge Capital Management L L P NC increased its stake in Amdocs Limited by 11.1%, acquiring an additional 71,081 shares, bringing its total holdings to approximately 711,020 shares.
• Amdocs reported a quarterly earnings per share (EPS) of $1.72, which slightly exceeded analysts' expectations, despite a year-over-year revenue decline of 8.4% to $1.14 billion.
• The company declared a quarterly dividend of $0.527, with a dividend yield of 2.5%, set to be paid on October 31st to shareholders recorded by September 30th.

Wedge Capital Management L L P NC increased its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 11.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 711,020 shares of the technology company's stock after acquiring an additional 71,081 shares during the quarter. Amdocs accounts for about 1.2% of Wedge Capital Management L L P NC's holdings, making the stock its 13th largest position. Wedge Capital Management L L P NC owned approximately 0.63% of Amdocs worth $64,873,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. LSV Asset Management raised its holdings in shares of Amdocs by 11.1% during the first quarter. LSV Asset Management now owns 3,180,501 shares of the technology company's stock valued at $291,016,000 after acquiring an additional 317,412 shares during the period. Alyeska Investment Group L.P. raised its holdings in shares of Amdocs by 38.6% during 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 acquiring an additional 648,693 shares during the period. American Century Companies Inc. raised its holdings in shares of Amdocs by 23.5% during 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 acquiring an additional 426,911 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Amdocs by 9.4% during 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 acquiring an additional 182,489 shares during the period. Finally, AQR Capital Management LLC raised its holdings 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 valued at $86,719,000 after acquiring an additional 287,243 shares during the period. Institutional investors and hedge funds own 92.02% of the company's stock.

Wall Street Analyst Weigh In

DOX has been the topic of a number of research analyst reports. Wolfe Research initiated coverage on shares of Amdocs in a research report 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 report on Sunday, August 10th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $105.33.

Amdocs Stock Performance

Shares of NASDAQ DOX traded down $1.37 during trading hours on Tuesday, hitting $83.25. 333,057 shares of the stock were exchanged, compared to its average volume of 729,091. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. The company's 50 day moving average is $86.44 and its 200 day moving average is $88.39. The firm has a market capitalization of $9.40 billion, a P/E ratio of 16.88, a P/E/G ratio of 1.53 and a beta of 0.54. Amdocs Limited has a one year low of $78.61 and a one year high of $95.41.

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

Amdocs Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a $0.527 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.5%. Amdocs's dividend payout ratio is currently 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.