Envestnet Portfolio Solutions Inc. Grows Stock Position in Amdocs Limited (NASDAQ:DOX)

Envestnet Portfolio Solutions Inc. increased its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 21.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,957 shares of the technology company's stock after buying an additional 5,928 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Amdocs were worth $2,891,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in DOX. Natixis Advisors LLC boosted its holdings in Amdocs by 70.0% in the fourth quarter. Natixis Advisors LLC now owns 46,898 shares of the technology company's stock valued at $3,993,000 after purchasing an additional 19,306 shares in the last quarter. Ironwood Investment Counsel LLC boosted its holdings in Amdocs by 5.1% in the fourth quarter. Ironwood Investment Counsel LLC now owns 9,357 shares of the technology company's stock valued at $797,000 after purchasing an additional 454 shares in the last quarter. Hilton Capital Management LLC boosted its holdings in Amdocs by 4.6% in the fourth quarter. Hilton Capital Management LLC now owns 17,602 shares of the technology company's stock valued at $1,499,000 after purchasing an additional 769 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Amdocs by 280.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 126,748 shares of the technology company's stock valued at $10,791,000 after purchasing an additional 93,471 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Amdocs by 127.9% in the fourth quarter. Farther Finance Advisors LLC now owns 841 shares of the technology company's stock valued at $72,000 after purchasing an additional 472 shares in the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

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Amdocs Stock Performance

Shares of DOX stock traded down $0.05 during trading hours on Friday, hitting $88.27. The stock had a trading volume of 2,964,109 shares, compared to its average volume of 657,335. The firm has a market capitalization of $9.96 billion, a PE ratio of 20.48, a PEG ratio of 1.47 and a beta of 0.68. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $93.34. The stock's 50 day moving average is $87.21 and its 200 day moving average is $87.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. As a group, research analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Monday, March 31st. This is a boost from Amdocs's previous quarterly dividend of $0.48. Amdocs's dividend payout ratio is 48.72%.

Analysts Set New Price Targets

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

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.