Cwm LLC Cuts Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Cwm LLC trimmed its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 0.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 113,995 shares of the technology company’s stock after selling 666 shares during the period. Cwm LLC’s holdings in Amdocs were worth $10,431,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

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

Amdocs Stock Performance

Shares of Amdocs stock opened at $88.73 on Tuesday. 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 $10.02 billion, a P/E ratio of 18.68, a P/E/G ratio of 1.46 and a beta of 0.52. 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 business has a fifty day simple moving average of $91.63 and a two-hundred day simple moving average of $88.34.

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

Amdocs Dividend Announcement

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 paid a $0.527 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.11 annualized dividend and a dividend yield of 2.38%. Amdocs’s payout ratio is currently 44.21%.

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.