Venturi Wealth Management LLC Reduces Stock Position in Amdocs Limited $DOX

Venturi Wealth Management LLC cut its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 12.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,525 shares of the technology company’s stock after selling 1,652 shares during the quarter. Venturi Wealth Management LLC’s holdings in Amdocs were worth $1,052,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. acquired a new position in shares of Amdocs in the 1st quarter worth approximately $31,000. Merit Financial Group LLC acquired a new position in shares of Amdocs in the 1st quarter worth approximately $233,000. Farther Finance Advisors LLC grew its position in shares of Amdocs by 17.5% in the 1st quarter. Farther Finance Advisors LLC now owns 988 shares of the technology company’s stock worth $90,000 after acquiring an additional 147 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Amdocs by 22.9% in the 1st quarter. SG Americas Securities LLC now owns 73,454 shares of the technology company’s stock worth $6,721,000 after acquiring an additional 13,672 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in shares of Amdocs by 20.8% in the 1st quarter. Handelsbanken Fonder AB now owns 60,514 shares of the technology company’s stock worth $5,537,000 after acquiring an additional 10,399 shares in the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Stock Down 0.1%

DOX stock opened at $82.36 on Thursday. Amdocs Limited has a 52 week low of $78.61 and a 52 week high of $95.41. The company has a market capitalization of $9.30 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 1.37 and a beta of 0.51. The firm’s 50-day moving average is $84.96 and its two-hundred day moving average is $87.86. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23.

Amdocs (NASDAQ:DOX) last released its quarterly earnings results on Wednesday, August 6th. The technology company reported $1.72 EPS for the quarter, topping 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 company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm earned $1.62 EPS. Amdocs’s revenue was down 8.4% on a year-over-year basis. On average, analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Amdocs’s payout ratio is currently 42.60%.

Analyst Ratings Changes

Several brokerages have recently commented on DOX. Wolfe Research began coverage on Amdocs in a research report on Tuesday, July 8th. They issued an “outperform” rating for the company. Wall Street Zen lowered Amdocs from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Amdocs in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $108.00.

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.