Todd Asset Management LLC Sells 2,451 Shares of Amdocs Limited (NASDAQ:DOX)

Todd Asset Management LLC reduced its stake in Amdocs Limited (NASDAQ:DOX) by 0.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 426,379 shares of the technology company’s stock after selling 2,451 shares during the period. Todd Asset Management LLC owned 0.38% of Amdocs worth $39,014,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in Amdocs by 17.5% during the first quarter. Farther Finance Advisors LLC now owns 988 shares of the technology company’s stock valued at $90,000 after acquiring an additional 147 shares during the last quarter. Corbyn Investment Management Inc. MD lifted its position in Amdocs by 0.4% during the first quarter. Corbyn Investment Management Inc. MD now owns 38,866 shares of the technology company’s stock valued at $3,556,000 after acquiring an additional 152 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Amdocs by 3.5% in the first quarter. PNC Financial Services Group Inc. now owns 5,247 shares of the technology company’s stock worth $480,000 after buying an additional 177 shares during the last quarter. Denali Advisors LLC raised its holdings in shares of Amdocs by 3.6% in the first quarter. Denali Advisors LLC now owns 5,810 shares of the technology company’s stock worth $532,000 after buying an additional 200 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Amdocs by 55.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company’s stock worth $50,000 after buying an additional 208 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DOX shares. Wall Street Zen raised shares of Amdocs from a “hold” rating to a “buy” rating in a report on Sunday. Wolfe Research began coverage on shares of Amdocs in a research note on Tuesday, July 8th. They issued an “outperform” rating on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $105.33.

Amdocs Stock Performance

NASDAQ:DOX opened at $89.41 on Monday. The company’s 50-day moving average price is $90.17 and its 200-day moving average price is $88.77. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The company has a market cap of $10.09 billion, a P/E ratio of 18.14, a P/E/G ratio of 1.64 and a beta of 0.51. Amdocs Limited has a twelve month low of $78.61 and a twelve month high of $95.41.

Amdocs (NASDAQ:DOX) last issued its earnings results on Wednesday, August 6th. The technology company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.01. Amdocs had a net margin of 11.94% and a return on equity of 19.66%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm earned $1.62 earnings per share. Amdocs’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, sell-side analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.527 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.4%. Amdocs’s dividend payout ratio (DPR) 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.