Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 597.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,120 shares of the technology company's stock after acquiring an additional 7,813 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Amdocs were worth $778,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in DOX. Private Trust Co. NA grew its position in Amdocs by 62.9% in the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company's stock worth $27,000 after purchasing an additional 117 shares during the period. Brooklyn Investment Group bought a new stake in Amdocs in the 3rd quarter worth approximately $28,000. Catalyst Capital Advisors LLC bought a new stake in Amdocs in the 3rd quarter worth approximately $55,000. GAMMA Investing LLC grew its position in Amdocs by 115.1% in the 3rd quarter. GAMMA Investing LLC now owns 800 shares of the technology company's stock worth $70,000 after purchasing an additional 428 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in Amdocs in the 3rd quarter worth approximately $77,000. Institutional investors own 92.02% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DOX shares. StockNews.com upgraded shares of Amdocs from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Oppenheimer lifted their price target on shares of Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Finally, Barclays dropped their price target on shares of Amdocs from $113.00 to $111.00 and set an "overweight" rating on the stock in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Amdocs presently has a consensus rating of "Buy" and an average target price of $101.20.

Amdocs Price Performance

Shares of DOX traded up $1.07 during trading hours on Friday, reaching $88.30. 663,595 shares of the stock traded hands, compared to its average volume of 632,452. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $94.04. The company's 50-day moving average price is $85.89 and its two-hundred day moving average price is $86.48. The company has a market cap of $9.97 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 1.41 and a beta of 0.71.

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%. On average, analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Monday, March 31st will be paid a $0.527 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 2.39%. This is a boost from Amdocs's previous quarterly dividend of $0.48. Amdocs's payout ratio is presently 44.55%.

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.