Quarry LP Cuts Position in Amdocs Limited (NASDAQ:DOX)

Quarry LP cut its stake in Amdocs Limited (NASDAQ:DOX) by 37.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 745 shares of the technology company’s stock after selling 444 shares during the period. Quarry LP’s holdings in Amdocs were worth $59,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. grew its position in shares of Amdocs by 24.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,215 shares of the technology company’s stock worth $175,000 after buying an additional 440 shares in the last quarter. Silver Lake Advisory LLC lifted its stake in Amdocs by 8.7% in the second quarter. Silver Lake Advisory LLC now owns 33,285 shares of the technology company’s stock worth $2,627,000 after acquiring an additional 2,660 shares during the last quarter. Creative Planning increased its position in shares of Amdocs by 122.9% in the 2nd quarter. Creative Planning now owns 11,007 shares of the technology company’s stock valued at $869,000 after purchasing an additional 6,069 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in shares of Amdocs by 143.0% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 22,068 shares of the technology company’s stock valued at $1,742,000 after purchasing an additional 12,987 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of Amdocs by 39.3% during the 2nd quarter. Mackenzie Financial Corp now owns 128,521 shares of the technology company’s stock worth $10,143,000 after purchasing an additional 36,232 shares during the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on DOX. StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Stifel Nicolaus began coverage on shares of Amdocs in a report on Wednesday. They issued a “buy” rating and a $100.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Amdocs has a consensus rating of “Moderate Buy” and an average target price of $102.00.

Amdocs Trading Up 0.1 %

DOX opened at $88.16 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The business’s 50 day moving average is $85.57 and its two-hundred day moving average is $83.73. The firm has a market cap of $10.36 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 1.54 and a beta of 0.74.

Amdocs (NASDAQ:DOX) last announced its earnings results on Wednesday, August 7th. The technology company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.41 EPS. On average, research analysts predict that Amdocs Limited will post 5.67 EPS for the current year.

Amdocs Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 30th will be issued a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs’s dividend payout ratio is currently 42.92%.

Amdocs 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.