Parallel Advisors LLC Sells 1,957 Shares of Amdocs Limited (NASDAQ:DOX)

Parallel Advisors LLC cut its stake in Amdocs Limited (NASDAQ:DOX) by 14.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,466 shares of the technology company’s stock after selling 1,957 shares during the quarter. Parallel Advisors LLC’s holdings in Amdocs were worth $905,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of DOX. Wasatch Advisors LP bought a new position in Amdocs during the first quarter worth about $1,943,000. Royal London Asset Management Ltd. grew its position in shares of Amdocs by 1.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 64,632 shares of the technology company’s stock valued at $5,681,000 after purchasing an additional 1,217 shares during the period. Running Oak Capital LLC increased its stake in Amdocs by 15.0% during the 1st quarter. Running Oak Capital LLC now owns 108,734 shares of the technology company’s stock worth $9,826,000 after purchasing an additional 14,205 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in Amdocs by 7.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 166,927 shares of the technology company’s stock worth $16,030,000 after purchasing an additional 12,178 shares in the last quarter. Finally, Boston Trust Walden Corp raised its holdings in Amdocs by 17.0% during the 2nd quarter. Boston Trust Walden Corp now owns 618,387 shares of the technology company’s stock worth $48,803,000 after buying an additional 89,726 shares during the period. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $102.50.

Amdocs Trading Up 0.5 %

NASDAQ DOX opened at $86.94 on Tuesday. The stock has a market capitalization of $10.22 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 1.52 and a beta of 0.74. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The stock’s 50 day moving average price is $84.25 and its two-hundred day moving average price is $84.11. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24.

Amdocs (NASDAQ:DOX) last announced its 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. Amdocs had a net margin of 10.21% and a return on equity of 17.89%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the prior year, the company posted $1.41 earnings per share. The firm’s 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 fiscal year.

Amdocs Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 30th will be issued 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 2.20%. Amdocs’s payout ratio is presently 42.92%.

Amdocs Company 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.