Amdocs Limited (NASDAQ:DOX) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its position in Amdocs Limited (NASDAQ:DOX) by 18.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 710,672 shares of the technology company’s stock after selling 164,001 shares during the period. Amdocs comprises approximately 1.1% of Wedge Capital Management L L P NC’s holdings, making the stock its 9th biggest holding. Wedge Capital Management L L P NC owned about 0.60% of Amdocs worth $62,170,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Norwood Financial Corp acquired a new stake in shares of Amdocs in the first quarter valued at approximately $33,000. Central Pacific Bank Trust Division bought a new stake in shares of Amdocs during the first quarter worth $53,000. Riverview Trust Co acquired a new position in shares of Amdocs during the first quarter valued at $55,000. Quarry LP boosted its holdings in Amdocs by 168.9% in the fourth quarter. Quarry LP now owns 656 shares of the technology company’s stock valued at $58,000 after acquiring an additional 412 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Amdocs by 115.1% in the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after acquiring an additional 428 shares during the last quarter. Institutional investors own 92.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DOX shares. StockNews.com upgraded shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Stifel Nicolaus started coverage on shares of Amdocs in a research report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 target price for the company. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Amdocs has a consensus rating of “Buy” and an average price target of $102.00.

Amdocs Stock Up 0.4 %

Shares of DOX traded up $0.39 during midday trading on Monday, hitting $88.64. The stock had a trading volume of 56,242 shares, compared to its average volume of 684,448. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $10.42 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74. The company has a 50 day simple moving average of $85.70 and a two-hundred day simple moving average of $83.50. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $94.04.

Amdocs (NASDAQ:DOX) last released its earnings results on Wednesday, August 7th. The technology company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.60 by $0.02. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 EPS. On average, analysts anticipate that Amdocs Limited will post 5.67 EPS for the current year.

Amdocs Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 30th will be issued a dividend of $0.479 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.92 annualized dividend and a yield of 2.16%. Amdocs’s payout ratio is presently 42.92%.

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.