Boothbay Fund Management LLC Increases Stake in Amdocs Limited (NASDAQ:DOX)

Boothbay Fund Management LLC grew its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 12.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 240,306 shares of the technology company's stock after acquiring an additional 26,623 shares during the quarter. Amdocs comprises approximately 0.5% of Boothbay Fund Management LLC's investment portfolio, making the stock its 23rd largest holding. Boothbay Fund Management LLC owned about 0.21% of Amdocs worth $20,460,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of DOX. Nordea Investment Management AB increased its holdings in Amdocs by 8.3% in the 4th quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company's stock worth $141,112,000 after buying an additional 127,426 shares during the period. Pacer Advisors Inc. increased its holdings in Amdocs by 7.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company's stock worth $154,587,000 after buying an additional 125,654 shares during the period. Dudley & Shanley Inc. increased its holdings in Amdocs by 7.6% in the 3rd quarter. Dudley & Shanley Inc. now owns 261,826 shares of the technology company's stock worth $22,905,000 after buying an additional 18,600 shares during the period. Range Financial Group LLC acquired a new position in Amdocs in the 4th quarter worth approximately $1,376,000. Finally, Principal Financial Group Inc. increased its holdings in Amdocs by 6.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,032,867 shares of the technology company's stock worth $90,355,000 after buying an additional 63,718 shares during the period. Institutional investors and hedge funds own 92.02% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Amdocs from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Amdocs presently has an average rating of "Moderate Buy" and a consensus target price of $101.20.

Amdocs Stock Performance

Amdocs stock traded up $1.33 during mid-day trading on Tuesday, hitting $88.11. The company had a trading volume of 523,765 shares, compared to its average volume of 706,315. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $93.34. The company has a market capitalization of $9.95 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 1.47 and a beta of 0.59. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. The company's fifty day moving average is $87.01 and its 200-day moving average is $87.00.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. Equities research analysts predict that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 31st were given a dividend of $0.527 per share. This is a positive change from Amdocs's previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.39%. Amdocs's dividend payout ratio (DPR) is 48.72%.

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.