Private Advisor Group LLC Lowers Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Private Advisor Group LLC lessened its stake in Amdocs Limited (NASDAQ:DOX) by 3.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,076 shares of the technology company’s stock after selling 198 shares during the period. Private Advisor Group LLC’s holdings in Amdocs were worth $464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Alyeska Investment Group L.P. boosted its position in Amdocs by 86.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company’s stock worth $143,127,000 after purchasing an additional 781,061 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Amdocs by 25.4% during the fourth quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company’s stock valued at $228,211,000 after acquiring an additional 543,490 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Amdocs by 16.1% in the 4th quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company’s stock valued at $261,756,000 after buying an additional 426,035 shares during the period. The Manufacturers Life Insurance Company increased its stake in Amdocs by 2,489.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 376,383 shares of the technology company’s stock worth $32,045,000 after buying an additional 361,845 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Amdocs by 32.8% during the 4th quarter. Russell Investments Group Ltd. now owns 979,861 shares of the technology company’s stock worth $83,426,000 after buying an additional 242,093 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wolfe Research initiated coverage on Amdocs in a research note on Tuesday, July 8th. They set an “outperform” rating for the company. Wall Street Zen raised shares of Amdocs from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $105.33.

Amdocs Trading Down 0.7%

Shares of Amdocs stock opened at $86.12 on Thursday. The business has a fifty day simple moving average of $90.93 and a 200-day simple moving average of $88.63. The firm has a market cap of $9.72 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 1.43 and a beta of 0.52. Amdocs Limited has a fifty-two week low of $78.61 and a fifty-two week high of $95.41. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.07. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Amdocs had a return on equity of 19.52% and a net margin of 11.39%. Amdocs’s revenue was down 9.4% on a year-over-year basis. During the same quarter last year, the business posted $1.56 EPS. On average, equities analysts forecast that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Announces Dividend

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

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.