Cerity Partners LLC Boosts Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Cerity Partners LLC grew its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 40.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,742 shares of the technology company's stock after acquiring an additional 3,090 shares during the period. Cerity Partners LLC's holdings in Amdocs were worth $923,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Pzena Investment Management LLC boosted its holdings in shares of Amdocs by 4.3% in the fourth quarter. Pzena Investment Management LLC now owns 6,634,549 shares of the technology company's stock worth $564,866,000 after acquiring an additional 270,810 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Amdocs by 2.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,263,591 shares of the technology company's stock valued at $274,681,000 after buying an additional 87,801 shares during the period. Vanguard Group Inc. increased its holdings in shares of Amdocs by 16.1% in the fourth quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company's stock worth $261,756,000 after buying an additional 426,035 shares during the period. Wellington Management Group LLP increased its holdings in shares of Amdocs by 25.4% in the fourth quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company's stock worth $228,211,000 after buying an additional 543,490 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in shares of Amdocs by 7.4% in the fourth 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. 92.02% of the stock is owned by institutional investors.

Amdocs Stock Up 0.6 %

Shares of NASDAQ:DOX traded up $0.48 on Thursday, hitting $85.44. 64,491 shares of the company traded hands, compared to its average volume of 703,222. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $93.34. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $87.19 and a 200-day simple moving average of $87.04. The company has a market cap of $9.65 billion, a PE ratio of 19.89, a PEG ratio of 1.47 and a beta of 0.59.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its quarterly earnings results 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 expect that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be given a $0.527 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.47%. This is an increase from Amdocs's previous quarterly dividend of $0.48. Amdocs's dividend payout ratio is 48.72%.

Analyst Upgrades and Downgrades

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 issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.