Valley Wealth Managers Inc. increased its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 8.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 248,078 shares of the technology company's stock after acquiring an additional 18,703 shares during the period. Amdocs makes up 1.6% of Valley Wealth Managers Inc.'s investment portfolio, making the stock its 18th largest position. Valley Wealth Managers Inc. owned about 0.22% of Amdocs worth $21,121,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Private Trust Co. NA boosted its position in shares of Amdocs by 62.9% in the third quarter. Private Trust Co. NA now owns 303 shares of the technology company's stock worth $27,000 after acquiring an additional 117 shares during the last quarter. Brooklyn Investment Group purchased a new position in Amdocs in the third quarter valued at approximately $28,000. Catalyst Capital Advisors LLC purchased a new position in Amdocs in the third quarter valued at approximately $55,000. Meeder Asset Management Inc. purchased a new position in Amdocs in the third quarter valued at approximately $77,000. Finally, Principal Securities Inc. raised its holdings in Amdocs by 10.4% in the fourth quarter. Principal Securities Inc. now owns 1,341 shares of the technology company's stock valued at $114,000 after buying an additional 126 shares during the period. 92.02% of the stock is owned by institutional investors and hedge funds.
Amdocs Stock Down 1.6 %
Shares of DOX traded down $1.40 during mid-day trading on Friday, reaching $87.91. 726,643 shares of the stock traded hands, compared to its average volume of 651,589. The firm has a market cap of $9.92 billion, a price-to-earnings ratio of 20.40, a P/E/G ratio of 1.48 and a beta of 0.71. The stock has a fifty day simple moving average of $86.06 and a 200 day simple moving average of $86.56. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $94.04. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22.
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 (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%. Sell-side analysts expect that Amdocs Limited will post 6.21 EPS for the current fiscal year.
Amdocs Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 20th. Investors of record on Monday, March 31st will be paid a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Monday, March 31st. This is a positive change from Amdocs's previous quarterly dividend of $0.48. Amdocs's payout ratio is 44.55%.
Wall Street Analysts Forecast Growth
DOX has been the topic of several research reports. StockNews.com lowered shares of Amdocs from a "strong-buy" rating to a "buy" rating in a report on Wednesday. Oppenheimer raised their price target on shares of Amdocs from $98.00 to $105.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Finally, Barclays cut their price target on shares of Amdocs from $113.00 to $111.00 and set an "overweight" rating on the stock in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $101.20.
Read Our Latest Stock Analysis on DOX
Amdocs Company Profile
(
Free Report)
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.
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