Amdocs Limited (NASDAQ:DOX) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 511,024 shares of the technology company's stock after buying an additional 17,884 shares during the period. Envestnet Asset Management Inc. owned about 0.45% of Amdocs worth $43,509,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp acquired a new stake in Amdocs during the fourth quarter worth approximately $36,000. SBI Securities Co. Ltd. acquired a new stake in shares of Amdocs during the fourth quarter worth about $41,000. Global Retirement Partners LLC grew its stake in Amdocs by 45.6% during the 4th quarter. Global Retirement Partners LLC now owns 559 shares of the technology company's stock worth $48,000 after buying an additional 175 shares during the last quarter. Private Trust Co. NA increased its position in Amdocs by 121.5% during the fourth quarter. Private Trust Co. NA now owns 671 shares of the technology company's stock worth $57,000 after buying an additional 368 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in Amdocs by 199.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 686 shares of the technology company's stock valued at $59,000 after buying an additional 457 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company's stock.

Amdocs Stock Performance

Shares of DOX stock traded up $0.46 during mid-day trading on Tuesday, hitting $84.56. The stock had a trading volume of 377,062 shares, compared to its average volume of 699,882. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $93.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20. The company's 50-day simple moving average is $87.59 and its 200-day simple moving average is $87.23. The firm has a market cap of $9.55 billion, a PE ratio of 19.62, a PEG ratio of 1.47 and a beta of 0.59.

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Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings data 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%. Sell-side analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be issued 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 2.49%. This is a boost from Amdocs's previous quarterly dividend of $0.48. Amdocs's dividend payout ratio is currently 48.72%.

Wall Street Analysts Forecast Growth

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

Amdocs Company 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.