Insider Selling: Amdocs (NASDAQ:DOX) Insider Sells 1,733 Shares of Stock

Key Points

• Insider Shimie Hortig sold 1,733 Amdocs shares for about $74,762, reducing his stake by 0.99% to 172,699 shares. He also sold 7,264 shares the previous day.
• Amdocs reported quarterly earnings of $1.98 per share, matching estimates, while revenue rose 3.8% year over year to $1.19 billion. The company declared a quarterly dividend of $0.569 per share, equivalent to a 5.1% annualized yield.
• Analyst views were mixed, with the stock carrying an overall Hold rating and a $69 consensus price target. Shares traded at $44.83, well below their 50- and 200-day moving averages.

Amdocs Limited (NASDAQ:DOX - Get Free Report) insider Shimie Hortig sold 1,733 shares of the stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $43.14, for a total value of $74,761.62. Following the completion of the sale, the insider owned 172,699 shares in the company, valued at $7,450,234.86. This trade represents a 0.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, November 10th, Shimie Hortig sold 7,264 shares of Amdocs stock. The stock was sold at an average price of $42.18, for a total value of $306,395.52.

Amdocs Price Performance

NASDAQ DOX traded up $0.72 during trading on Friday, reaching $44.83. The company's stock had a trading volume of 2,245,070 shares, compared to its average volume of 1,326,356. The stock has a market capitalization of $4.84 billion, a PE ratio of 9.60, a P/E/G 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. The firm has a fifty day moving average of $57.88 and a 200 day moving average of $61.17. Amdocs Limited has a one year low of $39.96 and a one year high of $84.95.

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

Amdocs Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Shareholders of record on Thursday, December 31st will be given a dividend of $0.5690 per share. The ex-dividend date is Thursday, December 31st. This represents a $2.28 dividend on an annualized basis and a yield of 5.1%. Amdocs's dividend payout ratio (DPR) is presently 48.82%.

Wall Street Analysts Forecast Growth

DOX has been the topic of several recent research reports. Wall Street Zen lowered Amdocs from a "buy" rating to a "hold" rating in a research report on Saturday, November 7th. Stifel Nicolaus dropped 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. Oppenheimer cut shares of Amdocs from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 4th. Zacks Research downgraded shares of Amdocs from a "hold" rating to a "strong sell" rating in a research note on Monday. Finally, Weiss Ratings raised shares of Amdocs from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, October 23rd. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Amdocs has an average rating of "Hold" and a consensus price target of $69.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its stake in shares of Amdocs by 14.9% in the first quarter. Royal Bank of Canada now owns 446,125 shares of the technology company's stock worth $29,114,000 after purchasing an additional 57,740 shares during the last quarter. Renaissance Technologies LLC raised its position in Amdocs by 429.6% during the 1st quarter. Renaissance Technologies LLC now owns 291,800 shares of the technology company's stock valued at $19,043,000 after purchasing an additional 236,700 shares during the last quarter. Steel Grove Capital Advisors LLC purchased a new stake in Amdocs in the 3rd quarter worth approximately $2,229,000. TD Waterhouse Canada Inc. lifted its holdings in Amdocs by 14.1% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 247,521 shares of the technology company's stock worth $12,682,000 after buying an additional 30,555 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Amdocs by 29.1% in the 1st quarter. Bank of America Corp DE now owns 1,262,263 shares of the technology company's stock worth $82,375,000 after buying an additional 284,435 shares during the last quarter. 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

About Amdocs

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.

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