Amdocs Limited (NASDAQ:DOX) Stock Holdings Reduced by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC cut its stake in Amdocs Limited (NASDAQ:DOX) by 21.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 639,939 shares of the technology company’s stock after selling 178,082 shares during the period. Amdocs makes up approximately 1.1% of Wedge Capital Management L L P NC’s holdings, making the stock its 4th largest holding. Wedge Capital Management L L P NC’s holdings in Amdocs were worth $58,554,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in DOX. AdvisorNet Financial Inc grew its holdings in shares of Amdocs by 382.9% in the 1st quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company’s stock worth $31,000 after acquiring an additional 268 shares during the period. NBC Securities Inc. purchased a new stake in Amdocs during the first quarter worth $31,000. Jones Financial Companies Lllp acquired a new stake in Amdocs in the fourth quarter valued at $36,000. SBI Securities Co. Ltd. purchased a new position in shares of Amdocs in the fourth quarter valued at $41,000. Finally, Global Retirement Partners LLC increased its position in shares of Amdocs by 45.6% in the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock valued at $48,000 after buying an additional 175 shares in the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Amdocs from a “hold” rating to a “buy” rating in a research report on Saturday.

Amdocs Trading Up 1.4%

Shares of DOX opened at $92.28 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $94.61. The stock has a market cap of $10.42 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The firm has a 50 day simple moving average of $88.14 and a 200-day simple moving average of $87.44.

Amdocs (NASDAQ:DOX) last announced its earnings results on Wednesday, May 7th. The technology company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. Amdocs had a return on equity of 18.89% and a net margin of 10.19%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the firm earned $1.56 EPS. Amdocs’s quarterly revenue was down 9.4% on a year-over-year basis. Equities analysts forecast that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, June 30th will be given a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Monday, June 30th. Amdocs’s dividend payout ratio is presently 44.21%.

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.