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

TD Asset Management Inc lowered its stake in shares of Amdocs Limited (NASDAQ:DOX) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 152,221 shares of the technology company’s stock after selling 2,628 shares during the period. TD Asset Management Inc owned 0.13% of Amdocs worth $13,928,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cornerstone Planning Group LLC purchased a new position in shares of Amdocs during the 1st quarter valued at about $27,000. AdvisorNet Financial Inc increased its stake in Amdocs by 382.9% in the 1st quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company’s stock worth $31,000 after purchasing an additional 268 shares during the period. NBC Securities Inc. bought a new stake in Amdocs during the 1st quarter valued at $31,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Amdocs during the first quarter worth about $39,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Amdocs by 55.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company’s stock valued at $50,000 after buying an additional 208 shares during the period. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Trading Down 0.7%

Amdocs stock opened at $86.12 on Thursday. 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 Limited has a 12-month low of $78.61 and a 12-month high of $95.41. The firm has a market capitalization of $9.72 billion, a price-to-earnings ratio of 18.13, a P/E/G ratio of 1.43 and a beta of 0.52. The firm has a 50 day moving average of $90.93 and a 200 day moving average of $88.63.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. The business 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%. The business’s quarterly revenue was down 9.4% on a year-over-year basis. During the same period last year, the firm earned $1.56 earnings per share. As a group, research analysts predict that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DOX shares. Wolfe Research began coverage on shares of Amdocs in a research report on Tuesday, July 8th. They set an “outperform” rating on the stock. Wall Street Zen upgraded Amdocs from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average 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.