Insider Selling: Amdocs (NASDAQ:DOX) Insider Sells 7,264 Shares of Stock

Amdocs Limited (NASDAQ:DOX) insider Shimie Hortig sold 7,264 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $42.18, for a total value of $306,395.52. Following the completion of the transaction, the insider owned 174,432 shares of the company’s stock, valued at $7,357,541.76. This represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Shimie Hortig also recently made the following trade(s):

• On Wednesday, November 11th, Shimie Hortig sold 1,733 shares of Amdocs stock. The stock was sold at an average price of $43.14, for a total value of $74,761.62.

Amdocs Stock Up 1.6%

DOX stock traded up $0.72 during mid-day trading on Friday, hitting $44.83. 2,237,285 shares of the company were exchanged, compared to its average volume of 1,326,356. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $4.84 billion, a P/E ratio of 9.60, a P/E/G ratio of 1.40 and a beta of 0.42. The firm’s 50 day simple moving average is $57.88 and its 200 day simple moving average is $61.17. Amdocs Limited has a 1-year low of $39.96 and a 1-year high of $84.95.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Tuesday, November 3rd. The technology company reported $1.98 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.98. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. Amdocs had a net margin of 10.59% and a return on equity of 20.81%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.83 earnings per share. On average, sell-side analysts predict that Amdocs Limited will post 5.82 EPS for the current fiscal year.

Amdocs Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 29th. Investors of record on Thursday, December 31st will be issued a dividend of $0.5690 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Thursday, December 31st. Amdocs’s dividend payout ratio (DPR) is presently 48.82%.

Key Amdocs News

Investors following DOX have been watching these news items:

• Positive Sentiment: Amdocs is seeking shareholder backing for a 3% increase in its quarterly dividend, a potential boost to shareholder returns. Dividend increase report
• Neutral Sentiment: Call-option trading was unusually active, with 2,152 calls purchased versus an average daily volume of 406. This may reflect increased bullish positioning, but options activity alone does not establish the market’s direction.
• Negative Sentiment: Several law firms announced investigations into potential securities claims after Amdocs’ steep share-price drop. These are investigations, not findings of wrongdoing, but could add legal and reputational uncertainty. BFA Law investigation announcement

Institutional Trading of Amdocs

A number of hedge funds and other institutional investors have recently made changes to their positions in DOX. Bleakley Financial Group LLC lifted its position in shares of Amdocs by 29.4% in the third quarter. Bleakley Financial Group LLC now owns 23,272 shares of the technology company’s stock worth $1,331,000 after purchasing an additional 5,289 shares in the last quarter. First Trust Advisors LP grew its position in Amdocs by 18.7% in the third quarter. First Trust Advisors LP now owns 1,637,842 shares of the technology company’s stock valued at $93,652,000 after purchasing an additional 258,098 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in Amdocs in the 3rd quarter valued at $40,432,000. Composition Wealth LLC acquired a new stake in Amdocs in the 3rd quarter valued at $309,000. Finally, Voya Investment Management LLC increased its stake in Amdocs by 155.6% in the 3rd quarter. Voya Investment Management LLC now owns 28,213 shares of the technology company’s stock valued at $1,613,000 after buying an additional 17,173 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on DOX shares. Stifel Nicolaus reduced their target price on shares of Amdocs from $71.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, November 4th. Weiss Ratings raised Amdocs from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 23rd. Oppenheimer lowered Amdocs from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 4th. Wall Street Zen cut Amdocs from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Finally, Zacks Research downgraded Amdocs from a “hold” rating to a “strong sell” rating in a report on Monday. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $69.00.

Amdocs Company Profile

Amdocs provides software and services to communications and media companies. Its offerings include business and operational support systems for billing, customer management, service delivery and network operations, as well as cloud and digital solutions that help clients modernize their businesses and improve customer experiences. Founded in 1982, Amdocs serves communications and media providers in markets around the world. The company is headquartered in the St. Louis, Missouri, area and is led by President and Chief Executive Officer Shuky Sheffer.