Renaissance Technologies LLC Raises Holdings in Amdocs Limited (NASDAQ:DOX)

Renaissance Technologies LLC lifted its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 97.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 134,400 shares of the technology company's stock after buying an additional 66,400 shares during the quarter. Renaissance Technologies LLC owned approximately 0.12% of Amdocs worth $11,443,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp acquired a new stake in Amdocs in the fourth quarter valued at $36,000. SBI Securities Co. Ltd. purchased a new position in shares of Amdocs in the 4th quarter valued at $41,000. Global Retirement Partners LLC boosted its stake in Amdocs by 45.6% in the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company's stock valued at $48,000 after acquiring an additional 175 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of Amdocs by 121.5% during the fourth quarter. Private Trust Co. NA now owns 671 shares of the technology company's stock worth $57,000 after purchasing an additional 368 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Amdocs by 199.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 686 shares of the technology company's stock worth $59,000 after purchasing an additional 457 shares in the last quarter. Hedge funds and other institutional investors own 92.02% of the company's stock.

Amdocs Stock Performance

Shares of Amdocs stock traded down $0.79 during trading hours on Monday, hitting $82.39. 49,112 shares of the company were exchanged, compared to its average volume of 700,849. The business has a 50-day moving average of $87.40 and a 200-day moving average of $87.12. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $93.34. 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 stock has a market capitalization of $9.30 billion, a price-to-earnings ratio of 19.13, a P/E/G ratio of 1.47 and a beta of 0.59.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 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%. As a group, analysts expect that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be given a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a yield of 2.56%. This is an increase from Amdocs's previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, March 31st. Amdocs's payout ratio is presently 48.72%.

Wall Street Analyst Weigh In

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