Valley Wealth Managers Inc. Sells 179,552 Shares of Amdocs Limited $DOX

Valley Wealth Managers Inc. trimmed its stake in Amdocs Limited (NASDAQ:DOX) by 79.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,966 shares of the technology company’s stock after selling 179,552 shares during the period. Valley Wealth Managers Inc.’s holdings in Amdocs were worth $3,000,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. WealthCollab LLC raised its position in shares of Amdocs by 94.5% during the third quarter. WealthCollab LLC now owns 356 shares of the technology company’s stock valued at $29,000 after buying an additional 173 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new stake in shares of Amdocs in the fourth quarter valued at about $37,000. Los Angeles Capital Management LLC acquired a new stake in Amdocs during the fourth quarter worth about $39,000. Advisory Services Network LLC bought a new position in Amdocs during the third quarter valued at about $42,000. Finally, CIBC Private Wealth Group LLC increased its stake in Amdocs by 190.2% during the third quarter. CIBC Private Wealth Group LLC now owns 595 shares of the technology company’s stock valued at $49,000 after acquiring an additional 390 shares during the period. Institutional investors own 92.02% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on DOX. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amdocs in a research report on Friday, May 8th. Stifel Nicolaus lowered their price objective on Amdocs from $88.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. KeyCorp assumed coverage on Amdocs in a research report on Monday, June 29th. They set a “sector weight” rating on the stock. Cfra cut Amdocs to a “sell” rating in a research report on Thursday, May 14th. Finally, Wall Street Zen downgraded shares of Amdocs from a “buy” rating to a “hold” rating in a research note on Sunday, July 5th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Amdocs presently has a consensus rating of “Hold” and an average price target of $86.67.

Amdocs Stock Performance

NASDAQ:DOX opened at $52.63 on Friday. The firm has a market capitalization of $5.68 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 0.91 and a beta of 0.41. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. Amdocs Limited has a 12-month low of $49.79 and a 12-month high of $90.29. The firm has a 50-day moving average price of $56.61 and a 200 day moving average price of $66.21.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Thursday, May 14th. The technology company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.17 billion. During the same period in the previous year, the business earned $1.78 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. Research analysts anticipate that Amdocs Limited will post 6.56 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. Shareholders of record on Tuesday, June 30th will be given a $0.569 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Tuesday, June 30th. Amdocs’s dividend payout ratio is 45.60%.

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.