Amdocs Limited (NASDAQ:DOX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Amdocs Limited (NASDAQ:DOX) by 3.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 335,328 shares of the technology company’s stock after selling 10,895 shares during the period. Bank of New York Mellon Corp owned 0.30% of Amdocs worth $30,683,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC raised its holdings in shares of Amdocs by 5.4% in the 4th quarter. Axxcess Wealth Management LLC now owns 2,431 shares of the technology company’s stock valued at $207,000 after buying an additional 124 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Amdocs by 17.5% during the 1st quarter. Farther Finance Advisors LLC now owns 988 shares of the technology company’s stock worth $90,000 after acquiring an additional 147 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Amdocs by 55.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company’s stock worth $50,000 after acquiring an additional 208 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Amdocs by 3.1% during the 1st quarter. Fifth Third Bancorp now owns 7,537 shares of the technology company’s stock worth $690,000 after acquiring an additional 225 shares in the last quarter. Finally, Donald L. Hagan LLC boosted its position in shares of Amdocs by 1.3% during the 1st quarter. Donald L. Hagan LLC now owns 17,456 shares of the technology company’s stock worth $1,597,000 after acquiring an additional 226 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Trading Down 0.8%

NASDAQ DOX opened at $88.05 on Wednesday. The company has a market capitalization of $9.94 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. Amdocs Limited has a 1-year low of $78.61 and a 1-year high of $95.41. The firm’s fifty day simple moving average is $91.56 and its 200-day simple moving average is $88.36. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX) last released its earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.07. Amdocs had a net margin of 11.39% and a return on equity of 19.52%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the company earned $1.56 earnings per share. The firm’s revenue was down 9.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, June 30th will be paid a $0.527 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a yield of 2.39%. Amdocs’s payout ratio is presently 44.42%.

Analyst Upgrades and Downgrades

DOX has been the subject of a number of analyst reports. Wall Street Zen raised Amdocs from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th. Wolfe Research initiated coverage on Amdocs in a research note on Tuesday, July 8th. They issued an “outperform” rating for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $105.33.

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.