Hsbc Holdings PLC Sells 20,894 Shares of Amdocs Limited $DOX

Hsbc Holdings PLC trimmed its stake in shares of Amdocs Limited (NASDAQ:DOX) by 17.3% during the first quarter, Holdings Channel reports. The firm owned 100,005 shares of the technology company’s stock after selling 20,894 shares during the period. Hsbc Holdings PLC’s holdings in Amdocs were worth $6,455,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of DOX. Amundi grew its position in Amdocs by 73.0% in the first quarter. Amundi now owns 13,778 shares of the technology company’s stock valued at $1,217,000 after acquiring an additional 5,816 shares during the period. Millennium Management LLC lifted its holdings in shares of Amdocs by 458.3% during the first quarter. Millennium Management LLC now owns 67,047 shares of the technology company’s stock valued at $6,135,000 after acquiring an additional 55,038 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Amdocs by 12.6% during the first quarter. Goldman Sachs Group Inc. now owns 331,146 shares of the technology company’s stock valued at $30,300,000 after acquiring an additional 37,087 shares during the period. Empowered Funds LLC boosted its stake in shares of Amdocs by 12.0% in the 1st quarter. Empowered Funds LLC now owns 15,979 shares of the technology company’s stock valued at $1,462,000 after purchasing an additional 1,709 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Amdocs by 195.4% in the 1st quarter. Jane Street Group LLC now owns 115,929 shares of the technology company’s stock worth $10,608,000 after purchasing an additional 76,683 shares during the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Stock Performance

Shares of NASDAQ:DOX opened at $50.85 on Friday. The business has a fifty day moving average of $55.81 and a 200-day moving average of $65.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.98. Amdocs Limited has a twelve month low of $49.74 and a twelve month high of $90.29. The firm has a market cap of $5.49 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 0.89 and a beta of 0.41.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Thursday, May 14th. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.01. Amdocs had a net margin of 11.81% and a return on equity of 19.77%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company earned $1.78 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities research analysts predict that Amdocs Limited will post 6.56 EPS 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 paid a dividend of $0.569 per share. This represents a $2.28 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, June 30th. Amdocs’s dividend payout ratio is 45.60%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DOX shares. Wall Street Zen cut shares of Amdocs from a “buy” rating to a “hold” rating in a research report on Sunday, July 5th. KeyCorp initiated coverage on shares of Amdocs in a research note on Monday, June 29th. They set a “sector weight” rating on the stock. Stifel Nicolaus dropped their price objective on shares of Amdocs from $88.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amdocs in a research note on Friday, May 8th. Finally, Cfra downgraded Amdocs to a “sell” rating in a report on Thursday, May 14th. 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. According to data from MarketBeat, Amdocs presently has an average rating of “Hold” and a consensus 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.