Allspring Global Investments Holdings LLC Decreases Stock Holdings in Amdocs Limited $DOX

Allspring Global Investments Holdings LLC trimmed its holdings in Amdocs Limited (NASDAQ:DOX) by 5.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,019,884 shares of the technology company’s stock after selling 178,167 shares during the quarter. Allspring Global Investments Holdings LLC owned about 2.68% of Amdocs worth $278,403,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Cornerstone Planning Group LLC purchased a new position in Amdocs in the 1st quarter worth approximately $27,000. Quarry LP raised its position in shares of Amdocs by 42.2% during the 1st quarter. Quarry LP now owns 391 shares of the technology company’s stock valued at $36,000 after buying an additional 116 shares during the period. Cullen Frost Bankers Inc. acquired a new position in Amdocs in the first quarter valued at approximately $39,000. SVB Wealth LLC acquired a new position in Amdocs in the first quarter valued at approximately $43,000. Finally, Geneos Wealth Management Inc. lifted its holdings in Amdocs by 213.9% in the first quarter. Geneos Wealth Management Inc. now owns 700 shares of the technology company’s stock valued at $64,000 after acquiring an additional 477 shares during the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Stock Down 1.3%

Shares of NASDAQ DOX opened at $80.77 on Monday. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 1.34 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. Amdocs Limited has a 52-week low of $78.61 and a 52-week high of $95.41. The business’s 50 day moving average is $84.82 and its two-hundred day moving average is $87.68.

Amdocs (NASDAQ:DOX) last announced its earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.01. The company had revenue of $1.14 billion for 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%.The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.62 earnings per share. 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 will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.527 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.6%. Amdocs’s dividend payout ratio is currently 42.80%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wall Street Zen upgraded Amdocs from a “hold” rating to a “buy” rating in a report on Saturday. Wolfe Research assumed coverage on Amdocs in a report on Tuesday, July 8th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Amdocs in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $108.00.

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.