Amdocs Limited (NASDAQ:DOX) Shares Sold by Deutsche Bank AG

Deutsche Bank AG lessened its stake in Amdocs Limited (NASDAQ:DOX) by 11.4% in the 1st quarter, Holdings Channel reports. The firm owned 347,559 shares of the technology company’s stock after selling 44,822 shares during the period. Deutsche Bank AG’s holdings in Amdocs were worth $31,802,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DOX. OneDigital Investment Advisors LLC boosted its position in shares of Amdocs by 20.8% during the first quarter. OneDigital Investment Advisors LLC now owns 3,026 shares of the technology company’s stock worth $277,000 after buying an additional 521 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Amdocs by 17.5% in the 1st quarter. Farther Finance Advisors LLC now owns 988 shares of the technology company’s stock valued at $90,000 after buying an additional 147 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in Amdocs by 7.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,738 shares of the technology company’s stock worth $616,000 after acquiring an additional 490 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Amdocs by 55.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company’s stock valued at $50,000 after acquiring an additional 208 shares during the period. Finally, Ritholtz Wealth Management boosted its holdings in Amdocs by 18.9% during the 1st quarter. Ritholtz Wealth Management now owns 3,195 shares of the technology company’s stock valued at $292,000 after acquiring an additional 507 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Trading Up 0.0%

DOX opened at $86.46 on Wednesday. The business has a fifty day moving average price of $89.96 and a 200 day moving average price of $88.76. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.16. Amdocs Limited has a 12 month low of $78.61 and a 12 month high of $95.41. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 1.58 and a beta of 0.51.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.01. Amdocs had a return on equity of 19.66% and a net margin of 11.94%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the company posted $1.62 earnings per share. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. Sell-side analysts expect that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, September 30th. Amdocs’s payout ratio is 42.80%.

Analysts Set New Price Targets

A number of brokerages have issued reports on DOX. Wall Street Zen upgraded shares of Amdocs from a “hold” rating to a “buy” rating in a research note on Sunday. Wolfe Research initiated coverage on shares of Amdocs in a research note on Tuesday, July 8th. They set an “outperform” rating on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $105.33.

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.