Hsbc Holdings PLC Sells 20,894 Shares of Amdocs Limited $DOX

Hsbc Holdings PLC trimmed its position in Amdocs Limited (NASDAQ:DOX) by 17.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,005 shares of the technology company’s stock after selling 20,894 shares during the quarter. Hsbc Holdings PLC owned about 0.09% of Amdocs worth $6,455,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Scotia Capital Inc. raised its holdings in Amdocs by 3.5% in the 3rd quarter. Scotia Capital Inc. now owns 4,289 shares of the technology company’s stock worth $352,000 after acquiring an additional 145 shares during the period. WealthCollab LLC boosted its holdings in Amdocs by 94.5% during the third quarter. WealthCollab LLC now owns 356 shares of the technology company’s stock valued at $29,000 after acquiring an additional 173 shares during the period. Blair William & Co. IL boosted its holdings in Amdocs by 5.5% during the third quarter. Blair William & Co. IL now owns 3,393 shares of the technology company’s stock valued at $278,000 after acquiring an additional 177 shares during the period. Two Point Capital Management Inc. grew its position in shares of Amdocs by 0.7% in the fourth quarter. Two Point Capital Management Inc. now owns 28,978 shares of the technology company’s stock valued at $2,333,000 after purchasing an additional 191 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of Amdocs by 2.2% in the third quarter. Mercer Global Advisors Inc. ADV now owns 9,634 shares of the technology company’s stock worth $790,000 after purchasing an additional 204 shares during the period. 92.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DOX. KeyCorp began coverage on Amdocs in a research report on Monday, June 29th. They set a “sector weight” rating for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amdocs in a research report on Friday, May 8th. Stifel Nicolaus cut their price target on Amdocs from $88.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Wall Street Zen cut Amdocs from a “buy” rating to a “hold” rating in a research report on Sunday, July 5th. Finally, Cfra downgraded shares of Amdocs to a “sell” rating in a research note on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Amdocs currently has an average rating of “Hold” and a consensus target price of $86.67.

Amdocs Stock Down 0.7%

DOX stock opened at $50.85 on Friday. Amdocs Limited has a twelve month low of $49.74 and a twelve month high of $90.29. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The company has a market cap of $5.49 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 0.89 and a beta of 0.41. The business’s 50-day simple moving average is $55.81 and its 200 day simple moving average is $65.29.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings results on Thursday, May 14th. The technology company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.77 by $0.01. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Amdocs had a return on equity of 19.77% and a net margin of 11.81%.The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.78 EPS. On average, research analysts anticipate that Amdocs Limited will post 6.56 earnings per share for the current year.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.569 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.28 dividend on an annualized basis and a yield of 4.5%. Amdocs’s payout ratio is currently 45.60%.

About Amdocs

Amdocs (NASDAQ: DOX) is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs’ product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra’anana, Israel.