National Bank of Canada FI Trims Position in Amdocs Limited (NASDAQ:DOX)

National Bank of Canada FI cut its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 85.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,328 shares of the technology company’s stock after selling 131,818 shares during the period. National Bank of Canada FI’s holdings in Amdocs were worth $1,756,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Pzena Investment Management LLC increased its stake in shares of Amdocs by 33.2% during the second quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock valued at $447,287,000 after buying an additional 1,412,826 shares during the period. Vanguard Group Inc. increased its stake in shares of Amdocs by 39.5% during the first quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock valued at $183,771,000 after buying an additional 576,168 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Amdocs by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,007,777 shares of the technology company’s stock valued at $176,464,000 after buying an additional 94,856 shares during the period. Brandes Investment Partners LP increased its stake in shares of Amdocs by 22.1% during the fourth quarter. Brandes Investment Partners LP now owns 1,402,646 shares of the technology company’s stock valued at $123,279,000 after buying an additional 254,304 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Amdocs by 22.7% during the first quarter. Acadian Asset Management LLC now owns 1,395,894 shares of the technology company’s stock valued at $126,119,000 after buying an additional 258,343 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Price Performance

Shares of NASDAQ:DOX opened at $85.05 on Thursday. 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 firm has a market cap of $10.00 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 1.51 and a beta of 0.74. The business has a 50-day simple moving average of $83.78 and a two-hundred day simple moving average of $84.26. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $94.04.

Amdocs (NASDAQ:DOX) last posted its earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.02. The business 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 revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.41 EPS. On average, analysts expect that Amdocs Limited will post 5.67 earnings per share for the current year.

Amdocs Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs’s dividend payout ratio is currently 42.92%.

Analyst Ratings Changes

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

Amdocs Company 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.