Choreo LLC Makes New $402,000 Investment in Amdocs Limited (NASDAQ:DOX)

Choreo LLC bought a new position in Amdocs Limited (NASDAQ:DOX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,715 shares of the technology company's stock, valued at approximately $402,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB grew its position in Amdocs by 8.3% in the 4th quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company's stock worth $141,112,000 after purchasing an additional 127,426 shares in the last quarter. Mirabella Financial Services LLP grew its position in Amdocs by 204.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 14,302 shares of the technology company's stock worth $1,250,000 after purchasing an additional 9,600 shares in the last quarter. Victory Capital Management Inc. grew its position in Amdocs by 1.9% in the 3rd quarter. Victory Capital Management Inc. now owns 478,137 shares of the technology company's stock worth $41,827,000 after purchasing an additional 9,098 shares in the last quarter. Pacer Advisors Inc. grew its position in Amdocs by 7.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company's stock worth $154,587,000 after purchasing an additional 125,654 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its position in Amdocs by 34.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 145,556 shares of the technology company's stock worth $12,733,000 after purchasing an additional 37,516 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company's stock.

Wall Street Analyst Weigh In

DOX has been the subject of a number of recent analyst reports. StockNews.com raised shares of Amdocs from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Oppenheimer upped their price objective on shares of Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Finally, Barclays reduced their target price on shares of Amdocs from $113.00 to $111.00 and set an "overweight" rating for the company in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $101.20.

Amdocs Stock Performance

Shares of Amdocs stock traded up $1.07 on Friday, reaching $88.30. 663,595 shares of the company traded hands, compared to its average volume of 632,452. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The company has a 50 day moving average of $85.89 and a 200 day moving average of $86.47. The firm has a market capitalization of $9.97 billion, a PE ratio of 20.49, a PEG ratio of 1.41 and a beta of 0.71. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20.

Amdocs (NASDAQ:DOX - Get Free Report) last released its earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share 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%. Equities analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Increases Dividend

The firm 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 dividend of $0.527 per share. 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 2.39%. The ex-dividend date is Monday, March 31st. Amdocs's dividend payout ratio is presently 44.55%.

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.