Envestnet Portfolio Solutions Inc. reduced its position in Amdocs Limited (NASDAQ:DOX – Free Report) by 76.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,885 shares of the technology company’s stock after selling 28,584 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Amdocs were worth $811,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in DOX. Cornerstone Planning Group LLC purchased a new position in Amdocs during the 1st quarter worth $27,000. Quarry LP boosted its holdings in Amdocs by 42.2% in the first quarter. Quarry LP now owns 391 shares of the technology company’s stock worth $36,000 after acquiring an additional 116 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Amdocs during the first quarter valued at about $39,000. SVB Wealth LLC acquired a new position in shares of Amdocs during the first quarter valued at about $43,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Amdocs by 213.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 700 shares of the technology company’s stock valued at $64,000 after purchasing an additional 477 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.
Amdocs Stock Up 0.5%
NASDAQ:DOX opened at $82.94 on Monday. 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 company’s fifty day moving average price is $84.41 and its 200-day moving average price is $87.40. Amdocs Limited has a 1-year low of $78.61 and a 1-year high of $95.41. The firm has a market capitalization of $9.36 billion, a P/E ratio of 16.82, a PEG ratio of 1.38 and a beta of 0.51.
Amdocs Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, September 30th. Amdocs’s dividend payout ratio (DPR) is currently 42.80%.
Analyst Upgrades and Downgrades
Several analysts have weighed in on DOX shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Amdocs in a research report on Wednesday, October 8th. Wolfe Research initiated coverage on shares of Amdocs in a report on Tuesday, July 8th. They set an “outperform” rating on the stock. Finally, Wall Street Zen raised Amdocs from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Amdocs presently has an average rating of “Moderate Buy” and a consensus target price of $108.00.
Read Our Latest Research Report on DOX
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.
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