Axxcess Wealth Management LLC Has $232,000 Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Axxcess Wealth Management LLC cut its stake in Amdocs Limited (NASDAQ:DOX) by 8.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,570 shares of the technology company’s stock after selling 243 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Amdocs were worth $232,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vident Advisory LLC lifted its position in Amdocs by 30.8% in the 1st quarter. Vident Advisory LLC now owns 156,777 shares of the technology company’s stock valued at $14,168,000 after acquiring an additional 36,944 shares in the last quarter. Pitcairn Co. lifted its position in Amdocs by 9.0% during the 1st quarter. Pitcairn Co. now owns 3,449 shares of the technology company’s stock worth $312,000 after buying an additional 284 shares in the last quarter. Vaughan David Investments LLC IL lifted its position in Amdocs by 1.9% during the 1st quarter. Vaughan David Investments LLC IL now owns 384,095 shares of the technology company’s stock worth $34,711,000 after buying an additional 7,278 shares in the last quarter. Bessemer Group Inc. lifted its position in Amdocs by 21.5% during the 1st quarter. Bessemer Group Inc. now owns 3,443 shares of the technology company’s stock worth $311,000 after buying an additional 610 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in Amdocs by 3.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 39,156 shares of the technology company’s stock worth $3,539,000 after buying an additional 1,292 shares in the last quarter. 92.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Robert W. Baird cut their price target on shares of Amdocs from $97.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Citigroup cut their price target on shares of Amdocs from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.80.

Amdocs Stock Up 2.4 %

Amdocs stock opened at $86.92 on Friday. The firm has a market capitalization of $10.22 billion, a PE ratio of 19.53, a P/E/G ratio of 1.53 and a beta of 0.74. The company’s 50-day moving average is $79.36 and its 200-day moving average is $85.74. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $96.24. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.32 and a quick ratio of 1.32.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Wednesday, May 8th. The technology company reported $1.38 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.05). Amdocs had a return on equity of 17.85% and a net margin of 10.62%. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.25 billion. Sell-side analysts anticipate that Amdocs Limited will post 5.72 earnings per share for the current year.

Amdocs Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, June 28th were paid a $0.479 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.92 dividend on an annualized basis and a yield of 2.20%. Amdocs’s dividend payout ratio (DPR) is currently 43.15%.

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.