NewEdge Advisors LLC Lowers Position in Amdocs Limited $DOX

NewEdge Advisors LLC decreased its position in shares of Amdocs Limited (NASDAQ:DOX) by 94.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 599 shares of the technology company’s stock after selling 10,677 shares during the quarter. NewEdge Advisors LLC’s holdings in Amdocs were worth $39,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. WealthCollab LLC grew its position 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 buying an additional 173 shares during the period. BOK Financial Private Wealth Inc. acquired a new position in shares of Amdocs in the fourth quarter worth about $37,000. Los Angeles Capital Management LLC purchased a new stake in shares of Amdocs during the 4th quarter worth about $39,000. Advisory Services Network LLC purchased a new stake in shares of Amdocs during the 3rd quarter worth about $42,000. Finally, CIBC Private Wealth Group LLC grew its position in shares of Amdocs by 190.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 595 shares of the technology company’s stock valued at $49,000 after acquiring an additional 390 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Trading Up 0.7%

Shares of Amdocs stock opened at $62.70 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23. Amdocs Limited has a twelve month low of $49.74 and a twelve month high of $87.10. The firm has a market capitalization of $6.77 billion, a PE ratio of 14.93, a P/E/G ratio of 1.08 and a beta of 0.40. The firm’s 50-day moving average price is $54.87 and its 200 day moving average price is $61.20.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Thursday, August 6th. The technology company reported $1.84 EPS for the quarter, hitting the consensus estimate of $1.84. Amdocs had a return on equity of 20.28% and a net margin of 9.75%.The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the business earned $1.72 EPS. Amdocs’s quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts predict that Amdocs Limited will post 6.57 EPS for the current fiscal year.

Amdocs Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a dividend of $0.569 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Wednesday, September 30th. Amdocs’s payout ratio is presently 54.05%.

Wall Street Analysts Forecast Growth

DOX has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Amdocs in a research note on Wednesday, August 5th. Wall Street Zen lowered Amdocs from a “buy” rating to a “hold” rating in a report on Sunday, July 5th. Cfra cut Amdocs to a “sell” rating in a research report on Thursday, May 14th. KeyCorp initiated coverage on Amdocs in a research note on Monday, June 29th. They set a “sector weight” rating for the company. Finally, Stifel Nicolaus decreased their target price on Amdocs from $88.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $86.67.

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.