Amdocs Limited $DOX Shares Sold by Deroy & Devereaux Private Investment Counsel Inc.

Deroy & Devereaux Private Investment Counsel Inc. trimmed its stake in shares of Amdocs Limited (NASDAQ:DOX) by 1.9% in the second quarter, Holdings Channel.com reports. The fund owned 294,307 shares of the technology company’s stock after selling 5,692 shares during the period. Amdocs makes up about 1.5% of Deroy & Devereaux Private Investment Counsel Inc.’s holdings, making the stock its 29th largest holding. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Amdocs were worth $26,853,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Quarry LP lifted its position in shares of Amdocs by 42.2% during the 1st quarter. Quarry LP now owns 391 shares of the technology company’s stock valued at $36,000 after acquiring an additional 116 shares during the period. Alhambra Investment Management LLC raised its position in shares of Amdocs by 5.0% during the 2nd quarter. Alhambra Investment Management LLC now owns 2,585 shares of the technology company’s stock worth $236,000 after purchasing an additional 124 shares during the last quarter. Mutual Advisors LLC raised its position in shares of Amdocs by 3.2% during the 2nd quarter. Mutual Advisors LLC now owns 4,516 shares of the technology company’s stock worth $397,000 after purchasing an additional 138 shares during the last quarter. MGO One Seven LLC raised its position in shares of Amdocs by 5.1% during the 2nd quarter. MGO One Seven LLC now owns 2,899 shares of the technology company’s stock worth $264,000 after purchasing an additional 140 shares during the last quarter. Finally, MAI Capital Management raised its position in shares of Amdocs by 9.7% during the 1st quarter. MAI Capital Management now owns 1,625 shares of the technology company’s stock worth $149,000 after purchasing an additional 144 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DOX has been the subject of several research reports. Wall Street Zen upgraded Amdocs from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings restated a “hold (c+)” rating on shares of Amdocs in a research report on Wednesday, October 8th. Finally, Wolfe Research initiated coverage on Amdocs in a research report on Tuesday, July 8th. They set an “outperform” rating for the company. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.00.

Amdocs Stock Up 2.7%

DOX stock opened at $83.66 on Wednesday. The stock has a market capitalization of $9.44 billion, a P/E ratio of 16.97, a PEG ratio of 1.36 and a beta of 0.51. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22. Amdocs Limited has a one year low of $78.61 and a one year high of $95.41. The company has a 50 day moving average price of $84.71 and a two-hundred day moving average price of $87.59.

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

Amdocs Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.527 dividend. This represents a $2.11 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Amdocs’s payout ratio is presently 42.60%.

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.