Bank of New York Mellon Corp Sells 10,895 Shares of Amdocs Limited (NASDAQ:DOX)

Bank of New York Mellon Corp reduced its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 3.1% in the first quarter, Holdings Channel reports. The institutional investor owned 335,328 shares of the technology company’s stock after selling 10,895 shares during the period. Bank of New York Mellon Corp’s holdings in Amdocs were worth $30,683,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Jones Financial Companies Lllp bought a new stake in shares of Amdocs in the fourth quarter valued at approximately $36,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Amdocs by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 213,310 shares of the technology company’s stock worth $18,161,000 after buying an additional 6,173 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Amdocs in the 4th quarter worth $1,906,000. Amundi grew its holdings in shares of Amdocs by 46.8% during the 4th quarter. Amundi now owns 7,962 shares of the technology company’s stock valued at $670,000 after purchasing an additional 2,540 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of Amdocs by 20.0% during the 4th quarter. HighTower Advisors LLC now owns 15,374 shares of the technology company’s stock valued at $1,309,000 after purchasing an additional 2,561 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DOX shares. Wolfe Research started coverage on shares of Amdocs in a report on Tuesday, July 8th. They issued an “outperform” rating for the company. Wall Street Zen raised shares of Amdocs from a “hold” rating to a “buy” rating in a report on Saturday, June 7th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Amdocs presently has a consensus rating of “Buy” and a consensus target price of $105.33.

Amdocs Price Performance

Amdocs stock opened at $88.05 on Wednesday. The company’s fifty day moving average price is $91.56 and its 200 day moving average price is $88.36. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $9.94 billion, a P/E ratio of 18.54, a P/E/G ratio of 1.47 and a beta of 0.52. Amdocs Limited has a 1 year low of $78.61 and a 1 year high of $95.41.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.71 by $0.07. Amdocs had a net margin of 11.39% and a return on equity of 19.52%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the business posted $1.56 EPS. The firm’s revenue was down 9.4% on a year-over-year basis. As a group, equities research analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, June 30th will be issued a $0.527 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.39%. Amdocs’s dividend payout ratio is presently 44.42%.

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.