Hsbc Holdings PLC Cuts Position in Amdocs Limited $DOX

Hsbc Holdings PLC cut its stake in Amdocs Limited (NASDAQ:DOX) by 37.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,577 shares of the technology company’s stock after selling 2,730 shares during the period. Hsbc Holdings PLC’s holdings in Amdocs were worth $415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. LSV Asset Management grew its position in Amdocs by 11.1% in the first quarter. LSV Asset Management now owns 3,180,501 shares of the technology company’s stock worth $291,016,000 after acquiring an additional 317,412 shares in the last quarter. American Century Companies Inc. grew its position in Amdocs by 23.5% in the first quarter. American Century Companies Inc. now owns 2,242,829 shares of the technology company’s stock worth $205,219,000 after acquiring an additional 426,911 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Amdocs by 9.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,120,075 shares of the technology company’s stock worth $193,978,000 after acquiring an additional 182,489 shares in the last quarter. Northern Trust Corp grew its position in Amdocs by 4.5% in the first quarter. Northern Trust Corp now owns 920,723 shares of the technology company’s stock worth $84,246,000 after acquiring an additional 39,915 shares in the last quarter. Finally, DigitalBridge Group Inc. grew its position in Amdocs by 13.6% in the fourth quarter. DigitalBridge Group Inc. now owns 759,272 shares of the technology company’s stock worth $64,644,000 after acquiring an additional 90,652 shares in the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Amdocs from a “hold” rating to a “buy” rating in a research report on Sunday, August 10th. Wolfe Research initiated coverage on shares of Amdocs in a research report on Tuesday, July 8th. They set an “outperform” rating for the company. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $105.33.

Amdocs Stock Performance

NASDAQ DOX opened at $84.42 on Wednesday. The company has a 50-day simple moving average of $88.23 and a two-hundred day simple moving average of $88.74. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. Amdocs Limited has a 12-month low of $78.61 and a 12-month high of $95.41. The firm has a market cap of $9.53 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 1.57 and a beta of 0.54.

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

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Amdocs’s dividend payout ratio is 42.80%.

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.