Verdence Capital Advisors LLC Boosts Stock Position in Amdocs Limited $DOX

Verdence Capital Advisors LLC lifted its holdings in Amdocs Limited (NASDAQ:DOX) by 2.8% in the second quarter, HoldingsChannel reports. The firm owned 6,607 shares of the technology company’s stock after purchasing an additional 183 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Amdocs were worth $603,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of DOX. Cornerstone Planning Group LLC purchased a new position in Amdocs during the first quarter worth $27,000. Quarry LP boosted its stake in Amdocs by 42.2% during the first quarter. Quarry LP now owns 391 shares of the technology company’s stock worth $36,000 after buying an additional 116 shares during the period. Cullen Frost Bankers Inc. purchased a new position in Amdocs during the first quarter worth $39,000. SVB Wealth LLC purchased a new position in Amdocs during the first quarter worth $43,000. Finally, Geneos Wealth Management Inc. boosted its stake in Amdocs by 213.9% during the first quarter. Geneos Wealth Management Inc. now owns 700 shares of the technology company’s stock worth $64,000 after buying an additional 477 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on DOX. Wolfe Research began coverage on shares of Amdocs in a research note on Tuesday, July 8th. They set an “outperform” rating for the company. Wall Street Zen raised shares of Amdocs from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Amdocs in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $108.00.

Amdocs Stock Up 2.7%

NASDAQ:DOX opened at $83.66 on Wednesday. Amdocs Limited has a 1-year low of $78.61 and a 1-year high of $95.41. The company has a 50-day moving average of $84.71 and a 200 day moving average of $87.59. The firm has a market cap of $9.44 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.36 and a beta of 0.51. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.72 earnings per share 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 during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the firm earned $1.62 earnings per share. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, research analysts anticipate that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a $0.527 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a yield of 2.5%. Amdocs’s dividend payout ratio is 42.60%.

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.