Commonwealth Equity Services LLC Reduces Position in Amdocs Limited (NASDAQ:DOX)

Commonwealth Equity Services LLC cut its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 11.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,818 shares of the technology company’s stock after selling 477 shares during the period. Commonwealth Equity Services LLC’s holdings in Amdocs were worth $301,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of DOX. Signaturefd LLC boosted its position in Amdocs by 6.2% in the second quarter. Signaturefd LLC now owns 4,107 shares of the technology company’s stock worth $324,000 after purchasing an additional 241 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Amdocs in the second quarter worth about $1,191,000. Deroy & Devereaux Private Investment Counsel Inc. raised its stake in shares of Amdocs by 41.9% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 296,360 shares of the technology company’s stock worth $23,389,000 after buying an additional 87,487 shares during the period. HB Wealth Management LLC bought a new position in shares of Amdocs in the second quarter worth about $413,000. Finally, Groesbeck Investment Management Corp NJ raised its stake in shares of Amdocs by 8.8% in the second quarter. Groesbeck Investment Management Corp NJ now owns 8,880 shares of the technology company’s stock worth $701,000 after buying an additional 718 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $102.50.

Amdocs Trading Up 0.3 %

Shares of NASDAQ DOX opened at $86.47 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $84.95 and a two-hundred day simple moving average of $83.92. The firm has a market cap of $10.16 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 1.52 and a beta of 0.74. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $94.04.

Amdocs (NASDAQ:DOX) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.60 by $0.02. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.25 billion. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 EPS. Analysts expect that Amdocs Limited will post 5.67 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.479 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.92 annualized dividend and a yield of 2.22%. Amdocs’s payout ratio is presently 42.92%.

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.