Riverwater Partners LLC Sells 268 Shares of Amdocs Limited (NASDAQ:DOX)

Riverwater Partners LLC lessened its stake in Amdocs Limited (NASDAQ:DOX) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,669 shares of the technology company’s stock after selling 268 shares during the period. Riverwater Partners LLC’s holdings in Amdocs were worth $1,525,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DOX. Axxcess Wealth Management LLC boosted its stake in shares of Amdocs by 5.4% during the 4th quarter. Axxcess Wealth Management LLC now owns 2,431 shares of the technology company’s stock valued at $207,000 after purchasing an additional 124 shares in the last quarter. Principal Securities Inc. increased its holdings in shares of Amdocs by 10.4% in the 4th quarter. Principal Securities Inc. now owns 1,341 shares of the technology company’s stock worth $114,000 after purchasing an additional 126 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Amdocs by 17.5% in the first quarter. Farther Finance Advisors LLC now owns 988 shares of the technology company’s stock worth $90,000 after purchasing an additional 147 shares during the last quarter. Global Retirement Partners LLC raised its position in Amdocs by 45.6% in the 4th quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock worth $48,000 after buying an additional 175 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Amdocs by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,621 shares of the technology company’s stock valued at $308,000 after purchasing an additional 180 shares during the last quarter. 92.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Amdocs from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th.

Amdocs Stock Down 0.5%

Shares of NASDAQ DOX opened at $92.36 on Friday. Amdocs Limited has a 12-month low of $76.16 and a 12-month high of $94.61. The stock’s fifty day simple moving average is $89.48 and its two-hundred day simple moving average is $87.79. 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 stock has a market capitalization of $10.43 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 1.53 and a beta of 0.52.

Amdocs (NASDAQ:DOX) last released its earnings results on Wednesday, May 7th. The technology company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.07. Amdocs had a return on equity of 19.52% and a net margin of 11.39%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the company posted $1.56 earnings per share. The company’s revenue was down 9.4% compared to the same quarter last year. As a group, analysts expect 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 will be paid on Friday, July 25th. Investors of record on Monday, June 30th will be given a dividend of $0.527 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.11 annualized dividend and a dividend yield of 2.28%. Amdocs’s dividend payout ratio (DPR) is presently 44.42%.

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.