Ashton Thomas Private Wealth LLC Reduces Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Ashton Thomas Private Wealth LLC reduced its position in Amdocs Limited (NASDAQ:DOX) by 5.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,920 shares of the technology company’s stock after selling 956 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Amdocs were worth $1,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. LSV Asset Management increased its stake in shares of Amdocs by 7.9% in the second quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock worth $253,109,000 after purchasing an additional 234,096 shares in the last quarter. Morton Community Bank grew its stake in Amdocs by 7.6% in the 2nd quarter. Morton Community Bank now owns 36,280 shares of the technology company’s stock valued at $2,863,000 after buying an additional 2,575 shares in the last quarter. Caprock Group LLC purchased a new position in Amdocs in the 2nd quarter valued at approximately $221,000. Corbyn Investment Management Inc. MD raised its holdings in Amdocs by 7.1% during the 2nd quarter. Corbyn Investment Management Inc. MD now owns 38,820 shares of the technology company’s stock valued at $3,064,000 after acquiring an additional 2,584 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its position in shares of Amdocs by 25.2% during the second quarter. Illinois Municipal Retirement Fund now owns 154,666 shares of the technology company’s stock worth $12,206,000 after acquiring an additional 31,137 shares in the last quarter. 92.02% of the stock is currently owned by institutional investors.

Amdocs Stock Performance

Amdocs stock opened at $85.84 on Wednesday. The firm’s 50 day simple moving average is $83.64 and its 200 day simple moving average is $84.26. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $94.04. The firm has a market capitalization of $10.09 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 1.51 and a beta of 0.74.

Amdocs (NASDAQ:DOX) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share for the quarter, topping 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 net margin of 10.21% and a return on equity of 17.89%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.41 earnings per share. As a group, analysts expect that Amdocs Limited will post 5.67 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be given a dividend of $0.479 per share. The ex-dividend date is Monday, September 30th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.23%. Amdocs’s dividend payout ratio (DPR) is presently 43.15%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Amdocs has a consensus rating of “Moderate Buy” and a consensus price target of $102.50.

About Amdocs

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.