Canada Pension Plan Investment Board Raises Stake in Amdocs Limited (NASDAQ:DOX)

Canada Pension Plan Investment Board increased its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 14.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,900 shares of the technology company's stock after buying an additional 3,300 shares during the period. Canada Pension Plan Investment Board's holdings in Amdocs were worth $2,205,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Pzena Investment Management LLC increased its position in shares of Amdocs by 4.3% during the fourth quarter. Pzena Investment Management LLC now owns 6,634,549 shares of the technology company's stock valued at $564,866,000 after buying an additional 270,810 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Amdocs by 2.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,263,591 shares of the technology company's stock worth $274,681,000 after acquiring an additional 87,801 shares during the period. Vanguard Group Inc. lifted its stake in Amdocs by 16.1% in the 4th quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company's stock worth $261,756,000 after purchasing an additional 426,035 shares in the last quarter. Wellington Management Group LLP lifted its stake in Amdocs by 25.4% in the 4th quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company's stock worth $228,211,000 after purchasing an additional 543,490 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Amdocs by 7.4% in the 4th 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. Institutional investors own 92.02% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of 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 given a buy rating to the company. Based on data from MarketBeat, Amdocs currently has an average rating of "Moderate Buy" and an average target price of $101.20.

Amdocs Stock Up 1.3 %

Amdocs stock opened at $84.96 on Thursday. Amdocs Limited has a 12 month low of $74.41 and a 12 month high of $93.34. The stock has a fifty day simple moving average of $87.19 and a two-hundred day simple moving average of $87.04. 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 firm has a market cap of $9.59 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 1.47 and a beta of 0.59.

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

Amdocs Increases Dividend

The company also recently declared 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. This is a positive change from Amdocs's previous quarterly dividend of $0.48. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Monday, March 31st. Amdocs's dividend payout ratio is presently 48.72%.

Amdocs Profile

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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