Amdocs Limited (NASDAQ:DOX) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can boosted its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 210,450 shares of the technology company's stock after acquiring an additional 4,569 shares during the period. Bank of Montreal Can owned about 0.19% of Amdocs worth $17,918,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of DOX. Nordea Investment Management AB increased its holdings in shares of Amdocs by 8.3% in the 4th quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company's stock valued at $141,112,000 after acquiring an additional 127,426 shares during the period. Pacer Advisors Inc. increased its stake in Amdocs by 7.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company's stock valued at $154,587,000 after purchasing an additional 125,654 shares during the period. Dudley & Shanley Inc. raised its holdings in shares of Amdocs by 7.6% in the third quarter. Dudley & Shanley Inc. now owns 261,826 shares of the technology company's stock valued at $22,905,000 after buying an additional 18,600 shares during the last quarter. Range Financial Group LLC acquired a new stake in shares of Amdocs during the fourth quarter worth about $1,376,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Amdocs by 6.6% during the third 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 last quarter. Institutional investors and hedge funds own 92.02% of the company's stock.

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Analyst Ratings Changes

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

Amdocs Stock Performance

NASDAQ DOX traded up $0.45 during trading hours on Tuesday, hitting $84.55. 573,619 shares of the stock were exchanged, compared to its average volume of 700,570. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $93.34. The stock has a 50-day moving average of $87.59 and a 200 day moving average of $87.23. The company has a market cap of $9.54 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 1.47 and a beta of 0.59. 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 results on Tuesday, February 4th. The technology company reported $1.45 EPS 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, equities research analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current 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. The ex-dividend date is Monday, March 31st. This is a boost from Amdocs's previous quarterly dividend of $0.48. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.49%. Amdocs's dividend payout ratio 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.