Kingsview Wealth Management LLC Reduces Holdings in Amdocs Limited $DOX

Kingsview Wealth Management LLC trimmed its stake in shares of Amdocs Limited (NASDAQ:DOX) by 17.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,423 shares of the technology company’s stock after selling 19,338 shares during the quarter. Kingsview Wealth Management LLC owned approximately 0.09% of Amdocs worth $7,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of DOX. Root Financial Partners LLC purchased a new stake in shares of Amdocs during the third quarter valued at approximately $26,000. WealthCollab LLC increased its stake in shares of Amdocs by 94.5% in the third quarter. WealthCollab LLC now owns 356 shares of the technology company’s stock worth $29,000 after buying an additional 173 shares during the period. Atlantic Union Bankshares Corp purchased a new position in shares of Amdocs in the third quarter worth $37,000. BOK Financial Private Wealth Inc. bought a new stake in Amdocs during the 4th quarter valued at $37,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in Amdocs during the 3rd quarter valued at $39,000. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Price Performance

DOX stock opened at $61.65 on Friday. 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 firm has a 50-day moving average of $64.27 and a 200 day moving average of $72.09. The company has a market cap of $6.66 billion, a P/E ratio of 12.33, a PEG ratio of 0.94 and a beta of 0.40.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Thursday, May 14th. The technology company reported $1.78 earnings per share 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 business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the firm posted $1.78 EPS. The business’s revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts forecast that Amdocs Limited will post 7.41 EPS for the current year.

Amdocs Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a $0.569 dividend. This represents a $2.28 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, June 30th. Amdocs’s dividend payout ratio is presently 45.60%.

Wall Street Analysts Forecast Growth

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

Amdocs Company 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.