Wedge Capital Management L L P NC Sells 178,082 Shares of Amdocs Limited (NASDAQ:DOX)

Wedge Capital Management L L P NC lessened its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 21.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 639,939 shares of the technology company's stock after selling 178,082 shares during the period. Amdocs accounts for approximately 1.1% of Wedge Capital Management L L P NC's portfolio, making the stock its 4th largest position. Wedge Capital Management L L P NC owned approximately 0.57% of Amdocs worth $58,554,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Alyeska Investment Group L.P. grew its position in Amdocs by 86.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company's stock worth $143,127,000 after purchasing an additional 781,061 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Amdocs by 25.4% during the fourth quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company's stock worth $228,211,000 after buying an additional 543,490 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Amdocs during the fourth quarter worth about $44,494,000. Vanguard Group Inc. increased its position in Amdocs by 16.1% in the 4th 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 period. Finally, The Manufacturers Life Insurance Company raised its stake in Amdocs by 2,489.0% during the 4th 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. Hedge funds and other institutional investors own 92.02% of the company's stock.

Amdocs Stock Up 1.4%

DOX stock opened at $92.28 on Friday. The stock has a market capitalization of $10.42 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The company has a fifty day moving average of $88.14 and a 200-day moving average of $87.44. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. Amdocs Limited has a one year low of $74.41 and a one year high of $94.61.

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 (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.07. Amdocs had a net margin of 10.19% and a return on equity of 18.89%. The firm had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the prior year, the company posted $1.56 earnings per share. The firm's revenue for the quarter was down 9.4% on a year-over-year basis. As a group, 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, July 25th. Investors of record on Monday, June 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 2.28%. The ex-dividend date of this dividend is Monday, June 30th. Amdocs's dividend payout ratio is presently 44.21%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Amdocs from a "hold" rating to a "buy" rating in a research note on Saturday.

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.

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