AE Wealth Management LLC Sells 4,275 Shares of Amdocs Limited (NASDAQ:DOX)

AE Wealth Management LLC lowered its position in shares of Amdocs Limited (NASDAQ:DOX) by 52.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 3,919 shares of the technology company’s stock after selling 4,275 shares during the quarter. AE Wealth Management LLC’s holdings in Amdocs were worth $359,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in DOX. Cornerstone Planning Group LLC acquired a new stake in shares of Amdocs in the first quarter valued at $27,000. AdvisorNet Financial Inc increased its holdings in Amdocs by 382.9% in the first quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company’s stock valued at $31,000 after buying an additional 268 shares in the last quarter. NBC Securities Inc. acquired a new stake in Amdocs in the first quarter valued at $31,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Amdocs during the 1st quarter worth about $39,000. Finally, Tower Research Capital LLC TRC lifted its holdings 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 during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Stock Performance

Shares of Amdocs stock opened at $86.12 on Thursday. Amdocs Limited has a 12 month low of $78.61 and a 12 month high of $95.41. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $9.72 billion, a PE ratio of 18.13, a PEG ratio of 1.43 and a beta of 0.52. The stock’s fifty day simple moving average is $90.93 and its 200 day simple moving average is $88.63.

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 analysts’ consensus estimates 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 the consensus estimate of $1.12 billion. During the same quarter last year, the firm earned $1.56 earnings per share. The firm’s revenue for the quarter was down 9.4% compared to the same quarter last year. On average, research analysts predict that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, June 30th were given a dividend of $0.527 per share. The ex-dividend date was Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.45%. Amdocs’s dividend payout ratio (DPR) is 44.42%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DOX shares. Wall Street Zen raised shares of Amdocs from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. Wolfe Research began coverage on shares of Amdocs in a research report on Tuesday, July 8th. They set an “outperform” rating on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Amdocs currently has a consensus rating of “Buy” and a consensus price target of $105.33.

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.