Amdocs (NASDAQ:DOX) Insider Shimie Hortig Sells 7,264 Shares of Company Stock

Key Points

• Insider Shimie Hortig sold 7,264 Amdocs shares at an average of $42.18, worth about $306,396, reducing direct ownership by 4% to 174,432 shares. Hortig also sold 1,733 shares the following day.
• Amdocs matched quarterly EPS expectations at $1.98 and reported revenue of $1.19 billion, up 3.8% year over year. The company declared a quarterly dividend of $0.569, equivalent to a 5.1% annualized yield.
• Analyst opinions have weakened, with several firms downgrading the stock; the consensus rating is Hold, with an average price target of $69.

Amdocs Limited (NASDAQ:DOX - Get Free Report) insider Shimie Hortig sold 7,264 shares of the business's stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $42.18, for a total value of $306,395.52. Following the sale, the insider directly owned 174,432 shares of the company's stock, valued at $7,357,541.76. This represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Shimie Hortig also recently made the following trade(s):

• On Wednesday, November 11th, Shimie Hortig sold 1,733 shares of Amdocs stock. The shares were sold at an average price of $43.14, for a total transaction of $74,761.62.

Amdocs Trading Up 1.6%

Shares of NASDAQ DOX traded up $0.72 during mid-day trading on Friday, hitting $44.83. The company's stock had a trading volume of 2,237,285 shares, compared to its average volume of 1,326,356. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 9.60, a price-to-earnings-growth ratio of 1.40 and a beta of 0.42. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.94. Amdocs Limited has a one year low of $39.96 and a one year high of $84.95. The company's fifty day simple moving average is $57.88 and its 200-day simple moving average is $61.17.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The technology company reported $1.98 earnings per share for the quarter, hitting analysts' consensus estimates of $1.98. Amdocs had a net margin of 10.59% and a return on equity of 20.81%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm posted $1.83 earnings per share. Amdocs's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Amdocs Limited will post 5.82 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Thursday, December 31st will be paid a $0.5690 dividend. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.1%. Amdocs's dividend payout ratio is 48.82%.

Hedge Funds Weigh In On Amdocs

Hedge funds and other institutional investors have recently made changes to their positions in the company. Alpine Bank Wealth Management increased its position in shares of Amdocs by 58.2% in the 3rd quarter. Alpine Bank Wealth Management now owns 500 shares of the technology company's stock valued at $29,000 after buying an additional 184 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Amdocs during the third quarter worth about $57,000. Versant Capital Management Inc lifted its holdings in Amdocs by 3,340.6% during the third quarter. Versant Capital Management Inc now owns 1,101 shares of the technology company's stock worth $63,000 after acquiring an additional 1,069 shares in the last quarter. Rothschild Investment LLC grew its stake in Amdocs by 296.2% in the third quarter. Rothschild Investment LLC now owns 1,240 shares of the technology company's stock valued at $71,000 after acquiring an additional 927 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in Amdocs by 16.4% in the third quarter. Farther Finance Advisors LLC now owns 1,292 shares of the technology company's stock valued at $74,000 after acquiring an additional 182 shares during the period. 92.02% of the stock is owned by institutional investors.

Latest Amdocs News

Here's some of the latest news about DOX:

• Positive Sentiment: Amdocs is seeking shareholder backing for a 3% increase in its quarterly dividend, a potential boost to shareholder returns. Dividend increase report
• Neutral Sentiment: Call-option trading was unusually active, with 2,152 calls purchased versus an average daily volume of 406. This may reflect increased bullish positioning, but options activity alone does not establish the market’s direction.
• Negative Sentiment: Several law firms announced investigations into potential securities claims after Amdocs’ steep share-price drop. These are investigations, not findings of wrongdoing, but could add legal and reputational uncertainty. BFA Law investigation announcement

Analyst Ratings Changes

DOX has been the subject of a number of analyst reports. Oppenheimer cut Amdocs from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 4th. Zacks Research cut Amdocs from a "hold" rating to a "strong sell" rating in a report on Monday. Wall Street Zen cut Amdocs from a "buy" rating to a "hold" rating in a report on Saturday, November 7th. Stifel Nicolaus decreased their target price on Amdocs from $71.00 to $46.00 and set a "buy" rating for the company in a research report on Wednesday, November 4th. Finally, Weiss Ratings raised Amdocs from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, October 23rd. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $69.00.

Amdocs Company Profile

Amdocs provides software and services to communications and media companies. Its offerings include business and operational support systems for billing, customer management, service delivery and network operations, as well as cloud and digital solutions that help clients modernize their businesses and improve customer experiences. Founded in 1982, Amdocs serves communications and media providers in markets around the world. The company is headquartered in the St. Louis, Missouri, area and is led by President and Chief Executive Officer Shuky Sheffer.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.