Amdocs Limited (NASDAQ:DOX) Shares Sold by Inspire Investing LLC

Inspire Investing LLC reduced its position in shares of Amdocs Limited (NASDAQ:DOX) by 31.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,340 shares of the technology company’s stock after selling 1,552 shares during the period. Inspire Investing LLC’s holdings in Amdocs were worth $264,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norwood Financial Corp acquired a new position in Amdocs in the first quarter valued at $33,000. Central Pacific Bank Trust Division purchased a new position in shares of Amdocs during the 1st quarter worth about $53,000. Riverview Trust Co acquired a new stake in shares of Amdocs in the first quarter worth approximately $55,000. Quarry LP grew its holdings in Amdocs by 168.9% in the fourth quarter. Quarry LP now owns 656 shares of the technology company’s stock valued at $58,000 after purchasing an additional 412 shares during the period. Finally, American National Bank acquired a new position in Amdocs during the second quarter worth approximately $76,000. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Amdocs Stock Up 0.3 %

DOX opened at $86.71 on Wednesday. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $94.04. The firm has a 50 day moving average price of $85.03 and a 200 day moving average price of $83.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $10.19 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 1.52 and a beta of 0.74.

Amdocs (NASDAQ:DOX) last issued its earnings results on Wednesday, August 7th. The technology company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the firm posted $1.41 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. Sell-side analysts expect that Amdocs Limited will post 5.67 earnings per share for the current year.

Amdocs Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be given a $0.479 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs’s payout ratio is 42.92%.

About Amdocs

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.