HighTower Advisors LLC Has $1.30 Million Stock Holdings in Amdocs Limited $DOX

HighTower Advisors LLC trimmed its position in Amdocs Limited (NASDAQ:DOX) by 7.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,244 shares of the technology company’s stock after selling 1,130 shares during the period. HighTower Advisors LLC’s holdings in Amdocs were worth $1,303,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DOX. Cornerstone Planning Group LLC bought a new stake in Amdocs in the 1st quarter valued at about $27,000. AdvisorNet Financial Inc increased its position in Amdocs by 382.9% in the 1st 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. bought a new stake in Amdocs in the 1st quarter valued at about $31,000. Cullen Frost Bankers Inc. bought a new stake in Amdocs in the 1st quarter valued at about $39,000. Finally, Tower Research Capital LLC TRC increased its position in Amdocs by 55.0% in the 4th 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 in the last quarter. 92.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wall Street Zen raised Amdocs from a “hold” rating to a “buy” rating in a research report on Sunday, August 10th. Wolfe Research initiated coverage on Amdocs in a report on Tuesday, July 8th. They set an “outperform” rating for the company. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $105.33.

Amdocs Stock Performance

DOX stock opened at $87.20 on Tuesday. The firm has a market cap of $9.84 billion, a PE ratio of 17.69, a P/E/G ratio of 1.61 and a beta of 0.51. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. The business has a 50 day moving average of $89.02 and a 200-day moving average of $88.80. Amdocs Limited has a 12-month low of $78.61 and a 12-month high of $95.41.

Amdocs (NASDAQ:DOX) last released its earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.01. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. Amdocs had a return on equity of 19.66% and a net margin of 11.94%.Amdocs’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.62 earnings per share. As a group, sell-side analysts expect that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a $0.527 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.11 annualized dividend and a dividend yield of 2.4%. Amdocs’s dividend payout ratio is currently 42.80%.

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.