Amdocs Limited (NASDAQ:DOX) Stock Holdings Lowered by Wahed Invest LLC

Wahed Invest LLC reduced its holdings in Amdocs Limited (NASDAQ:DOX) by 87.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,261 shares of the technology company’s stock after selling 15,090 shares during the quarter. Wahed Invest LLC’s holdings in Amdocs were worth $204,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Pzena Investment Management LLC raised its holdings in shares of Amdocs by 0.4% in the 1st quarter. Pzena Investment Management LLC now owns 4,254,777 shares of the technology company’s stock worth $384,504,000 after purchasing an additional 15,264 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Amdocs by 39.5% in the 1st quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock worth $183,771,000 after purchasing an additional 576,168 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Amdocs by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,007,777 shares of the technology company’s stock worth $176,464,000 after acquiring an additional 94,856 shares in the last quarter. Brandes Investment Partners LP increased its position in shares of Amdocs by 22.1% in the fourth quarter. Brandes Investment Partners LP now owns 1,402,646 shares of the technology company’s stock worth $123,279,000 after acquiring an additional 254,304 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Amdocs by 22.7% in the first quarter. Acadian Asset Management LLC now owns 1,395,894 shares of the technology company’s stock worth $126,119,000 after acquiring an additional 258,343 shares in the last quarter. 92.02% of the stock is currently owned by institutional investors.

Amdocs Stock Down 0.6 %

DOX traded down $0.48 on Friday, reaching $85.62. 476,059 shares of the company traded hands, compared to its average volume of 718,283. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market cap of $10.06 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 1.54 and a beta of 0.73. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $94.04. The stock’s 50 day moving average price is $79.78 and its 200-day moving average price is $85.67.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Wednesday, May 8th. The technology company reported $1.38 EPS 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 business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.25 billion. On average, sell-side analysts expect that Amdocs Limited will post 5.72 EPS for the current fiscal year.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, June 28th were issued a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, June 28th. Amdocs’s dividend payout ratio is currently 43.15%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Robert W. Baird dropped their target price 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 dropped their target price 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 research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.80.

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.