LSV Asset Management Lowers Position in Amdocs Limited (NASDAQ:DOX)

LSV Asset Management reduced its stake in Amdocs Limited (NASDAQ:DOX) by 3.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,973,059 shares of the technology company’s stock after selling 106,874 shares during the quarter. LSV Asset Management’s holdings in Amdocs were worth $268,675,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Lido Advisors LLC grew its stake in shares of Amdocs by 9.7% during the 3rd quarter. Lido Advisors LLC now owns 4,414 shares of the technology company’s stock worth $373,000 after acquiring an additional 391 shares during the period. Royal London Asset Management Ltd. increased its stake in Amdocs by 4.1% in the 3rd quarter. Royal London Asset Management Ltd. now owns 63,415 shares of the technology company’s stock worth $5,357,000 after purchasing an additional 2,477 shares during the period. Tudor Investment Corp Et Al increased its stake in Amdocs by 19.8% in the 3rd quarter. Tudor Investment Corp Et Al now owns 29,513 shares of the technology company’s stock worth $2,494,000 after purchasing an additional 4,872 shares during the period. Graham Capital Management L.P. purchased a new position in shares of Amdocs during the third quarter valued at approximately $229,000. Finally, American Century Companies Inc. increased its stake in shares of Amdocs by 6.2% during the third quarter. American Century Companies Inc. now owns 1,980,219 shares of the technology company’s stock valued at $167,309,000 after buying an additional 115,744 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DOX shares. StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 15th. Robert W. Baird dropped their price target on Amdocs from $97.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Finally, Citigroup dropped their target price on Amdocs from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.80.

Amdocs Stock Performance

DOX traded up $1.29 during midday trading on Friday, reaching $80.69. The company had a trading volume of 609,777 shares, compared to its average volume of 730,664. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average of $79.30 and a two-hundred day moving average of $86.07. The company has a market cap of $9.48 billion, a P/E ratio of 18.13, a P/E/G ratio of 1.38 and a beta of 0.74. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $97.98.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Wednesday, May 8th. The technology company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.05). The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Amdocs had a return on equity of 17.85% and a net margin of 10.62%. As a group, equities research analysts predict that Amdocs Limited will post 5.72 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be paid a $0.479 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, June 28th. Amdocs’s dividend payout ratio (DPR) is 43.15%.

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.