TD Asset Management Inc Sells 14,064 Shares of Amdocs Limited $DOX

TD Asset Management Inc cut its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 9.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 138,157 shares of the technology company’s stock after selling 14,064 shares during the quarter. TD Asset Management Inc’s holdings in Amdocs were worth $12,605,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Cornerstone Planning Group LLC bought a new position in shares of Amdocs during the first quarter worth approximately $27,000. Quarry LP increased its holdings in shares of Amdocs by 42.2% during the first quarter. Quarry LP now owns 391 shares of the technology company’s stock worth $36,000 after purchasing an additional 116 shares during the period. Cullen Frost Bankers Inc. bought a new position in shares of Amdocs during the first quarter worth approximately $39,000. SVB Wealth LLC bought a new position in shares of Amdocs during the first quarter worth approximately $43,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Amdocs by 213.9% during the first quarter. Geneos Wealth Management Inc. now owns 700 shares of the technology company’s stock worth $64,000 after purchasing an additional 477 shares during the period. 92.02% of the stock is owned by institutional investors.

Amdocs Stock Performance

Shares of Amdocs stock opened at $82.94 on Friday. Amdocs Limited has a fifty-two week low of $78.61 and a fifty-two week high of $95.41. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market capitalization of $9.36 billion, a P/E ratio of 16.82, a P/E/G ratio of 1.38 and a beta of 0.51. The company’s 50 day moving average price is $84.41 and its two-hundred day moving average price is $87.41.

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

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.527 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a yield of 2.5%. Amdocs’s dividend payout ratio (DPR) is currently 42.80%.

Analyst Ratings Changes

Several brokerages have recently commented on DOX. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Amdocs in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Amdocs from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Finally, Wolfe Research initiated coverage on Amdocs in a research note on Tuesday, July 8th. They set an “outperform” rating for the company. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $108.00.

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.