Bank of America Corp DE Cuts Stock Position in Amdocs Limited (NASDAQ:DOX)

Bank of America Corp DE reduced its position in Amdocs Limited (NASDAQ:DOX) by 7.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 980,538 shares of the technology company’s stock after selling 81,123 shares during the quarter. Bank of America Corp DE’s holdings in Amdocs were worth $83,483,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DOX. Axxcess Wealth Management LLC boosted its holdings in Amdocs by 5.4% during the 4th quarter. Axxcess Wealth Management LLC now owns 2,431 shares of the technology company’s stock valued at $207,000 after acquiring an additional 124 shares during the period. Principal Securities Inc. boosted its holdings in Amdocs by 10.4% during the 4th quarter. Principal Securities Inc. now owns 1,341 shares of the technology company’s stock valued at $114,000 after acquiring an additional 126 shares during the period. Global Retirement Partners LLC boosted its holdings in Amdocs by 45.6% during the 4th quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock valued at $48,000 after acquiring an additional 175 shares during the period. CIBC Asset Management Inc boosted its holdings in Amdocs by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,621 shares of the technology company’s stock valued at $308,000 after acquiring an additional 180 shares during the period. Finally, KFG Wealth Management LLC boosted its holdings in Amdocs by 8.2% during the 4th quarter. KFG Wealth Management LLC now owns 2,496 shares of the technology company’s stock valued at $213,000 after acquiring an additional 189 shares during the period. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Stock Down 1.2%

Shares of NASDAQ:DOX opened at $91.41 on Monday. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $94.61. The firm has a market capitalization of $10.32 billion, a P/E ratio of 21.21, a P/E/G ratio of 1.47 and a beta of 0.51. The stock has a 50 day moving average price of $87.36 and a 200-day moving average price of $86.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Wednesday, May 7th. The technology company reported $1.78 earnings per share 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 company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the company earned $1.56 EPS. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis. As a group, equities research analysts anticipate that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.527 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.11 annualized dividend and a yield of 2.31%. Amdocs’s dividend payout ratio is 44.21%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th.

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.