Gallacher Capital Management LLC Trims Position in Amdocs Limited (NASDAQ:DOX)

Gallacher Capital Management LLC trimmed its position in Amdocs Limited (NASDAQ:DOX) by 16.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,489 shares of the technology company’s stock after selling 1,053 shares during the quarter. Gallacher Capital Management LLC’s holdings in Amdocs were worth $433,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Norwood Financial Corp bought a new position in Amdocs in the 1st quarter worth about $33,000. Central Pacific Bank Trust Division purchased a new stake in Amdocs during the first quarter valued at about $53,000. Riverview Trust Co bought a new position in shares of Amdocs during the first quarter valued at about $55,000. Quarry LP increased its holdings in shares of Amdocs by 168.9% in the fourth quarter. Quarry LP now owns 656 shares of the technology company’s stock worth $58,000 after buying an additional 412 shares during the period. Finally, Principal Securities Inc. bought a new stake in Amdocs in the fourth quarter valued at approximately $63,000. 92.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a report on Thursday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $102.50.

Amdocs Stock Down 0.9 %

Shares of DOX stock opened at $84.91 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.24 and a quick ratio of 1.24. Amdocs Limited has a one year low of $74.41 and a one year high of $94.04. The company’s fifty day moving average price is $83.38 and its 200-day moving average price is $84.42. The company has a market capitalization of $9.98 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 1.56 and a beta of 0.74.

Amdocs (NASDAQ:DOX) last released its earnings results on Wednesday, August 7th. The technology company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.60 by $0.02. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.25 billion. Amdocs had a net margin of 10.21% and a return on equity of 17.89%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 earnings per share. Sell-side analysts expect that Amdocs Limited will post 5.67 EPS for the current fiscal year.

Amdocs Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be issued a $0.479 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs’s dividend payout ratio (DPR) is 42.92%.

About Amdocs

Amdocs Limited, through its subsidiaries, provides software and services worldwide. It designs, develops, operates, implements, supports, and markets open and modular cloud portfolio. The company provides CES23, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; Amdocs Subscription Marketplace, a software-as-a-service-based platform that includes an expansive network of pre-integrated digital services, such as media, gaming, eLearning, sports, and retail to security and business services; the monetization suite for charging, billing, policy, and revenue management; Intelligent networking suite with a set of modular, flexible, and open service lifecycle management capabilities for network automation journeys; amAIz, a telco GenAI framework; Amdocs Digital Brands Suite, a pre-integrated digital business suite; and Amdocs eSIM Cloud for service providers.