Wedge Capital Management L L P NC Decreases Stock Position in Amdocs Limited (NASDAQ:DOX)

Wedge Capital Management L L P NC lowered its position in Amdocs Limited (NASDAQ:DOX) by 3.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 874,673 shares of the technology company’s stock after selling 33,983 shares during the quarter. Amdocs makes up approximately 1.2% of Wedge Capital Management L L P NC’s portfolio, making the stock its 9th biggest position. Wedge Capital Management L L P NC’s holdings in Amdocs were worth $69,029,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. New York State Teachers Retirement System raised its holdings in Amdocs by 1.3% in the first quarter. New York State Teachers Retirement System now owns 10,719 shares of the technology company’s stock worth $969,000 after purchasing an additional 141 shares in the last quarter. First Affirmative Financial Network boosted its position in Amdocs by 5.4% in the first quarter. First Affirmative Financial Network now owns 3,085 shares of the technology company’s stock worth $279,000 after purchasing an additional 157 shares during the last quarter. Atlas Capital Advisors LLC grew its position in shares of Amdocs by 6.5% during the 1st quarter. Atlas Capital Advisors LLC now owns 2,640 shares of the technology company’s stock valued at $239,000 after acquiring an additional 160 shares during the period. True Wealth Design LLC increased its position in Amdocs by 2.0% in the fourth quarter. True Wealth Design LLC now owns 8,626 shares of the technology company’s stock worth $758,000 after buying an additional 170 shares in the last quarter. Finally, William Blair Investment Management LLC raised its stake in Amdocs by 4.0% during the 1st quarter. William Blair Investment Management LLC now owns 4,993 shares of the technology company’s stock worth $451,000 after acquiring an additional 191 shares during the period. Institutional investors own 92.02% of the company’s stock.

Amdocs Stock Up 1.3 %

DOX stock traded up $1.06 during trading on Thursday, hitting $83.61. 458,166 shares of the company’s stock traded hands, compared to its average volume of 714,640. The business has a fifty day simple moving average of $80.60 and a two-hundred day simple moving average of $85.06. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $9.83 billion, a P/E ratio of 18.55, a PEG ratio of 1.52 and a beta of 0.73. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $94.04.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings data 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. Amdocs had a return on equity of 17.85% and a net margin of 10.62%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the business posted $1.41 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. Sell-side analysts anticipate that Amdocs Limited will post 5.72 EPS for the current year.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be paid a $0.479 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs’s dividend payout ratio (DPR) is presently 42.92%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Robert W. Baird cut their target price on Amdocs from $97.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Finally, Citigroup dropped their target price on Amdocs from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $102.50.

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.