Allspring Global Investments Holdings LLC increased its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 36.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,175,790 shares of the technology company's stock after buying an additional 851,022 shares during the period. Allspring Global Investments Holdings LLC owned about 2.70% of Amdocs worth $277,818,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James & Associates raised its stake in Amdocs by 9.5% during the third quarter. Raymond James & Associates now owns 501,104 shares of the technology company's stock valued at $43,837,000 after buying an additional 43,627 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Amdocs by 58.2% in the 3rd quarter. Blue Trust Inc. now owns 1,800 shares of the technology company's stock valued at $157,000 after acquiring an additional 662 shares during the last quarter. Net Worth Advisory Group acquired a new stake in shares of Amdocs during the 3rd quarter valued at approximately $264,000. Inspire Advisors LLC lifted its stake in Amdocs by 85.8% during the third quarter. Inspire Advisors LLC now owns 11,079 shares of the technology company's stock worth $969,000 after purchasing an additional 5,117 shares during the last quarter. Finally, Twelve Points Wealth Management LLC acquired a new position in Amdocs in the third quarter worth $231,000. 92.02% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
DOX has been the topic of a number of research reports. StockNews.com raised shares of Amdocs from a "buy" rating to a "strong-buy" rating in a report on Thursday, October 10th. Stifel Nicolaus assumed coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They set a "buy" rating and a $100.00 price objective on the stock. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $102.00.
View Our Latest Stock Analysis on Amdocs
Amdocs Stock Performance
Shares of DOX traded up $0.05 during midday trading on Friday, hitting $90.99. 328,141 shares of the stock traded hands, compared to its average volume of 683,643. The business's 50 day moving average price is $86.42 and its two-hundred day moving average price is $83.50. The firm has a market capitalization of $10.69 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $94.04.
Amdocs (NASDAQ:DOX - Get Free Report) last posted its earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.02. Amdocs had a net margin of 10.21% and a return on equity of 17.89%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the business posted $1.41 EPS. Amdocs's revenue was up 1.1% on a year-over-year basis. Equities research analysts predict that Amdocs Limited will post 5.67 EPS for the current fiscal year.
Amdocs Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 30th will be given a $0.479 dividend. This represents a $1.92 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs's dividend payout ratio is currently 42.92%.
About Amdocs
(
Free Report)
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.
Read More
Before you consider Amdocs, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Amdocs wasn't on the list.
While Amdocs currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
