Envestnet Portfolio Solutions Inc. Trims Stake in Amdocs Limited $DOX

Envestnet Portfolio Solutions Inc. cut its position in shares of Amdocs Limited (NASDAQ:DOX) by 76.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,885 shares of the technology company’s stock after selling 28,584 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Amdocs were worth $811,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC bought a new stake in Amdocs in the first quarter worth about $27,000. Quarry LP lifted its stake in shares of Amdocs by 42.2% during the 1st quarter. Quarry LP now owns 391 shares of the technology company’s stock worth $36,000 after acquiring an additional 116 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in Amdocs during the 1st quarter valued at $39,000. SVB Wealth LLC bought a new position in Amdocs in the 1st quarter valued at $43,000. Finally, Geneos Wealth Management Inc. increased its stake in Amdocs by 213.9% in 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 currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Amdocs in a research note on Wednesday, October 8th. Wolfe Research began coverage on shares of Amdocs in a research 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 note on Saturday, October 11th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Amdocs presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.00.

Amdocs Price Performance

Shares of DOX opened at $82.94 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22. The company has a 50 day moving average price of $84.41 and a 200-day moving average price of $87.40. Amdocs Limited has a fifty-two week low of $78.61 and a fifty-two week high of $95.41. The stock has a market capitalization of $9.36 billion, a PE ratio of 16.82, a PEG ratio of 1.38 and a beta of 0.51.

Amdocs (NASDAQ:DOX) last issued 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. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Amdocs had a net margin of 11.94% and a return on equity of 19.66%. Amdocs’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Equities analysts predict 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 paid a $0.527 dividend. This represents a $2.11 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, September 30th. Amdocs’s payout ratio is 42.80%.

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.