Connor Clark & Lunn Investment Management Ltd. Has $10.79 Million Stock Position in Amdocs Limited (NASDAQ:DOX)

Connor Clark & Lunn Investment Management Ltd. raised its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 280.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 126,748 shares of the technology company's stock after buying an additional 93,471 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.11% of Amdocs worth $10,791,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Private Trust Co. NA raised its holdings in shares of Amdocs by 62.9% during the third quarter. Private Trust Co. NA now owns 303 shares of the technology company's stock valued at $27,000 after acquiring an additional 117 shares during the period. Brooklyn Investment Group purchased a new position in Amdocs during the 3rd quarter worth approximately $28,000. Jones Financial Companies Lllp acquired a new stake in Amdocs during the 4th quarter valued at $36,000. SBI Securities Co. Ltd. acquired a new stake in shares of Amdocs in the fourth quarter worth $41,000. Finally, Global Retirement Partners LLC grew its holdings in shares of Amdocs by 45.6% during the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company's stock valued at $48,000 after buying an additional 175 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company's stock.

Amdocs Stock Down 0.1 %

Shares of Amdocs stock traded down $0.09 during trading on Wednesday, hitting $89.19. 594,201 shares of the stock traded hands, compared to its average volume of 649,651. The stock has a market cap of $10.07 billion, a P/E ratio of 20.69, a PEG ratio of 1.47 and a beta of 0.68. The company has a fifty day moving average price of $86.90 and a two-hundred day moving average price of $87.12. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $93.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16.

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Amdocs (NASDAQ:DOX - Get Free Report) last posted its earnings results 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%. Equities research analysts predict 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 Friday, April 25th. Shareholders of record on Monday, March 31st will be given a $0.527 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.36%. This is a boost from Amdocs's previous quarterly dividend of $0.48. Amdocs's payout ratio is currently 48.72%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Amdocs from a "strong-buy" rating to a "buy" rating in a research 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 stock presently has a consensus rating of "Moderate Buy" and an average target price 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.