Kingsview Wealth Management LLC Sells 19,338 Shares of Amdocs Limited $DOX

Kingsview Wealth Management LLC decreased its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 17.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 92,423 shares of the technology company’s stock after selling 19,338 shares during the period. Kingsview Wealth Management LLC’s holdings in Amdocs were worth $7,441,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in Amdocs by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,852,587 shares of the technology company’s stock valued at $151,141,000 after buying an additional 16,301 shares in the last quarter. Themes Management Co LLC bought a new stake in Amdocs in the fourth quarter worth $285,000. Harbour Investments Inc. grew its stake in shares of Amdocs by 812.3% in the fourth quarter. Harbour Investments Inc. now owns 2,518 shares of the technology company’s stock worth $203,000 after acquiring an additional 2,242 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Amdocs by 6.1% in the fourth quarter. Fisher Asset Management LLC now owns 4,514 shares of the technology company’s stock worth $363,000 after acquiring an additional 261 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in shares of Amdocs during the fourth quarter valued at $414,000. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DOX has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amdocs in a research report on Friday, May 8th. Wall Street Zen lowered shares of Amdocs from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Cfra cut shares of Amdocs to a “sell” rating in a report on Thursday, May 14th. Barclays dropped their target price on shares of Amdocs from $111.00 to $92.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 4th. Finally, Stifel Nicolaus cut their price target on shares of Amdocs from $88.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $86.67.

Amdocs Stock Up 0.6%

DOX stock opened at $61.65 on Friday. The stock has a market capitalization of $6.66 billion, a P/E ratio of 12.33, a P/E/G ratio of 0.94 and a beta of 0.40. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 1.06. Amdocs Limited has a 1-year low of $59.40 and a 1-year high of $95.41. The business has a fifty day moving average price of $64.27 and a 200-day moving average price of $72.09.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Thursday, May 14th. The technology company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.77 by $0.01. Amdocs had a return on equity of 19.77% and a net margin of 11.81%.The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the firm posted $1.78 earnings per share. Amdocs’s revenue was up 3.9% compared to the same quarter last year. Equities analysts forecast that Amdocs Limited will post 7.41 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.569 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Amdocs’s dividend payout ratio (DPR) is presently 45.60%.

Amdocs Profile

Amdocs (NASDAQ: DOX) is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs’ product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra’anana, Israel.