Ritholtz Wealth Management Sells 7,547 Shares of Amdocs Limited (NASDAQ:DOX)

Ritholtz Wealth Management cut its holdings in Amdocs Limited (NASDAQ:DOX) by 71.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,948 shares of the technology company’s stock after selling 7,547 shares during the period. Ritholtz Wealth Management’s holdings in Amdocs were worth $233,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of DOX. Natixis Advisors L.P. bought a new position in shares of Amdocs during the 4th quarter valued at approximately $2,357,000. Axxcess Wealth Management LLC purchased a new stake in Amdocs in the fourth quarter worth $247,000. Private Advisor Group LLC increased its position in Amdocs by 58.7% in the fourth quarter. Private Advisor Group LLC now owns 5,491 shares of the technology company’s stock worth $483,000 after buying an additional 2,031 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Amdocs by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 171,456 shares of the technology company’s stock valued at $15,069,000 after buying an additional 5,211 shares during the period. Finally, Wrapmanager Inc. bought a new stake in shares of Amdocs in the fourth quarter valued at $203,000. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Amdocs Trading Down 0.9 %

Shares of DOX stock opened at $84.91 on Friday. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $94.04. The company’s fifty day simple moving average is $83.26 and its two-hundred day simple moving average is $84.46. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $9.98 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 1.56 and a beta of 0.73.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.02. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the prior year, the firm posted $1.41 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, analysts anticipate that Amdocs Limited will post 5.67 earnings per share for the current year.

Amdocs Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be given a dividend of $0.479 per share. The ex-dividend date is Monday, September 30th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.26%. Amdocs’s dividend payout ratio (DPR) is currently 42.92%.

Analyst Ratings Changes

Separately, StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $102.50.

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.