Norges Bank Invests $824,000 in Amdocs Limited (NASDAQ:DOX)

Norges Bank bought a new stake in Amdocs Limited (NASDAQ:DOX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 9,675 shares of the technology company's stock, valued at approximately $824,000.

Several other institutional investors and hedge funds have also made changes to their positions in DOX. HighTower Advisors LLC grew its position in Amdocs by 2.1% during the 3rd quarter. HighTower Advisors LLC now owns 12,813 shares of the technology company's stock worth $1,122,000 after purchasing an additional 265 shares during the last quarter. Barclays PLC grew its holdings in shares of Amdocs by 6.3% during the third quarter. Barclays PLC now owns 290,376 shares of the technology company's stock worth $25,402,000 after buying an additional 17,097 shares during the last quarter. Geode Capital Management LLC increased its position in Amdocs by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,633,733 shares of the technology company's stock valued at $143,498,000 after acquiring an additional 158,843 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Amdocs during the 3rd quarter worth approximately $130,000. Finally, Tidal Investments LLC grew its stake in shares of Amdocs by 2.6% in the 3rd quarter. Tidal Investments LLC now owns 113,671 shares of the technology company's stock valued at $9,944,000 after purchasing an additional 2,885 shares during the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Price Performance

Shares of NASDAQ:DOX traded up $0.45 during trading on Tuesday, hitting $84.55. 573,619 shares of the stock were exchanged, compared to its average volume of 700,570. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $93.34. The company has a market cap of $9.54 billion, a PE ratio of 19.62, a P/E/G ratio of 1.47 and a beta of 0.59. The company has a fifty day moving average price of $87.59 and a two-hundred day moving average price of $87.23. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22.

Remove Ads

Amdocs (NASDAQ:DOX - Get Free Report) last posted its earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share for the quarter, missing the consensus estimate 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 forecast that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be issued a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 2.49%. This is a positive change from Amdocs's previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, March 31st. Amdocs's dividend payout ratio is 48.72%.

Analysts Set New Price Targets

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

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.