Westwood Holdings Group Inc. Trims Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Key Points

• Westwood Holdings Group Inc. has reduced its stake in Amdocs Limited by 1.4%, now holding 229,449 shares valued at approximately $20.99 million.
• A number of institutional investors, such as LSV Asset Management and Alyeska Investment Group, have significantly increased their holdings in Amdocs, with 92.02% of the stock currently held by institutional investors.
• Analysts have downgraded Amdocs from a "buy" to a "hold" rating, while the company reported quarterly earnings of $1.78 per share, beating estimates, but experienced a revenue decline of 9.4% year-over-year.

Westwood Holdings Group Inc. trimmed its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 229,449 shares of the technology company's stock after selling 3,146 shares during the period. Westwood Holdings Group Inc. owned approximately 0.20% of Amdocs worth $20,995,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Cornerstone Planning Group LLC acquired a new position in shares of Amdocs during the first quarter worth $27,000. AdvisorNet Financial Inc boosted its holdings in Amdocs by 382.9% in the first quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock worth $31,000 after purchasing an additional 268 shares during the period. NBC Securities Inc. bought a new position in shares of Amdocs during the first quarter valued at approximately $31,000. Cullen Frost Bankers Inc. bought a new stake in Amdocs in the first quarter valued at $39,000. Finally, Tower Research Capital LLC TRC boosted its stake in Amdocs by 55.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company's stock valued at $50,000 after purchasing an additional 208 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DOX shares. Wall Street Zen lowered shares of Amdocs from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Wolfe Research initiated coverage on Amdocs in a report on Tuesday, July 8th. They set an "outperform" rating for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Amdocs has an average rating of "Moderate Buy" and a consensus target price of $105.33.

Amdocs Stock Performance

Shares of NASDAQ:DOX traded up $4.30 during midday trading on Thursday, reaching $88.87. The company had a trading volume of 1,554,718 shares, compared to its average volume of 755,646. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.21. The stock has a market cap of $10.03 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.40 and a beta of 0.51. The company's 50 day moving average price is $90.22 and its 200 day moving average price is $88.69. Amdocs Limited has a 52-week low of $78.61 and a 52-week high of $95.41.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The technology company reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.01. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.13 billion. Amdocs had a net margin of 11.94% and a return on equity of 19.72%. The business's quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the business earned $1.62 earnings per share. As a group, sell-side analysts anticipate that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Amdocs's dividend payout ratio (DPR) is presently 44.42%.

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.