Amdocs Limited (NASDAQ:DOX) Position Increased by LPL Financial LLC

LPL Financial LLC boosted its position in Amdocs Limited (NASDAQ:DOX - Free Report) by 25.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,015 shares of the technology company's stock after acquiring an additional 24,947 shares during the quarter. LPL Financial LLC owned 0.11% of Amdocs worth $10,473,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in DOX. Axxcess Wealth Management LLC raised its stake in shares of Amdocs by 5.4% in the 4th quarter. Axxcess Wealth Management LLC now owns 2,431 shares of the technology company's stock valued at $207,000 after acquiring an additional 124 shares during the period. Principal Securities Inc. raised its position in Amdocs by 10.4% in the fourth quarter. Principal Securities Inc. now owns 1,341 shares of the technology company's stock valued at $114,000 after purchasing an additional 126 shares during the period. Global Retirement Partners LLC lifted its stake 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 worth $48,000 after purchasing an additional 175 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Amdocs by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,621 shares of the technology company's stock worth $308,000 after buying an additional 180 shares during the period. Finally, KFG Wealth Management LLC grew its stake in shares of Amdocs by 8.2% in the fourth quarter. KFG Wealth Management LLC now owns 2,496 shares of the technology company's stock valued at $213,000 after buying an additional 189 shares in the last quarter. Hedge funds and other institutional investors own 92.02% of the company's stock.

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Analyst Upgrades and Downgrades

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

Amdocs Stock Down 2.0 %

DOX traded down $1.62 on Tuesday, reaching $80.46. The company's stock had a trading volume of 951,685 shares, compared to its average volume of 694,950. 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 Limited has a 1 year low of $74.41 and a 1 year high of $93.34. The business's 50 day moving average is $87.95 and its 200 day moving average is $87.33. The stock has a market cap of $9.08 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 1.47 and a beta of 0.59.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly 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 return on equity of 18.89% and a net margin of 10.19%. As a group, research analysts forecast that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.527 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 2.62%. This is a boost from Amdocs's previous quarterly dividend of $0.48. 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.