Amdocs Limited (NASDAQ:DOX) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 5.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 191,023 shares of the technology company’s stock after selling 11,889 shares during the period. Bank of Montreal Can owned approximately 0.16% of Amdocs worth $15,608,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Norwood Financial Corp acquired a new stake in Amdocs in the first quarter valued at approximately $33,000. Central Pacific Bank Trust Division acquired a new stake in Amdocs in the 1st quarter valued at $53,000. Riverview Trust Co acquired a new position in Amdocs during the first quarter worth $55,000. Quarry LP lifted its holdings in Amdocs by 168.9% during the fourth quarter. Quarry LP now owns 656 shares of the technology company’s stock valued at $58,000 after purchasing an additional 412 shares in the last quarter. Finally, American National Bank acquired a new stake in shares of Amdocs in the second quarter valued at about $76,000. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 13th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $102.50.

Amdocs Stock Up 0.6 %

NASDAQ DOX opened at $87.83 on Friday. Amdocs Limited has a one year low of $74.41 and a one year high of $94.04. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24. The business has a fifty day moving average price of $85.24 and a 200 day moving average price of $83.88. The company has a market cap of $10.32 billion, a P/E ratio of 19.74, a P/E/G ratio of 1.54 and a beta of 0.74.

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

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Monday, September 30th. Amdocs’s dividend payout ratio (DPR) is currently 42.92%.

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.