Amdocs Limited (NASDAQ:DOX) Shares Sold by Westwood Holdings Group Inc.

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. cut its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 1.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 229,449 shares of the technology company's stock after selling 3,146 shares during the period. Westwood Holdings Group Inc. owned about 0.20% of Amdocs worth $20,995,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in DOX. Cornerstone Planning Group LLC acquired a new stake in shares of Amdocs in the first quarter valued at about $27,000. AdvisorNet Financial Inc raised its position in shares of Amdocs by 382.9% in 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 last quarter. NBC Securities Inc. acquired a new stake in shares of Amdocs in the first quarter valued at about $31,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Amdocs in the first quarter valued at about $39,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Amdocs by 55.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company's stock valued at $50,000 after buying an additional 208 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Amdocs Trading Up 0.6%

DOX stock traded up $0.54 during mid-day trading on Friday, hitting $89.41. 827,005 shares of the company were exchanged, compared to its average volume of 795,022. 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 $10.09 billion, a P/E ratio of 18.14, a PEG ratio of 1.47 and a beta of 0.51. The business has a fifty day simple moving average of $90.17 and a 200-day simple moving average of $88.71. Amdocs Limited has a 12-month low of $78.61 and a 12-month high of $95.41.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.01. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. Amdocs had a net margin of 11.94% and a return on equity of 19.72%. Amdocs's revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.62 earnings per share. On average, equities research analysts predict that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, September 30th. 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.