Portfolio Design Labs LLC Boosts Holdings in Amdocs Limited (NASDAQ:DOX)

Portfolio Design Labs LLC raised its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 294.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,650 shares of the technology company's stock after purchasing an additional 10,191 shares during the quarter. Portfolio Design Labs LLC's holdings in Amdocs were worth $1,162,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC boosted its position in Amdocs by 115.1% in the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company's stock valued at $70,000 after buying an additional 428 shares during the last quarter. Creative Planning boosted its holdings in shares of Amdocs by 37.3% in the 3rd quarter. Creative Planning now owns 15,111 shares of the technology company's stock valued at $1,322,000 after acquiring an additional 4,104 shares during the last quarter. Twelve Points Wealth Management LLC acquired a new stake in shares of Amdocs in the third quarter worth $231,000. Inspire Advisors LLC raised its holdings in shares of 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, Net Worth Advisory Group acquired a new position in Amdocs during the third quarter valued at $264,000. Hedge funds and other institutional investors own 92.02% of the company's stock.

Amdocs Price Performance

Shares of NASDAQ:DOX traded up $1.07 during trading on Friday, reaching $88.30. 663,595 shares of the company's stock traded hands, compared to its average volume of 632,452. The firm has a market cap of $9.97 billion, a PE ratio of 20.49, a P/E/G ratio of 1.41 and a beta of 0.71. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $94.04. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. The company has a 50-day simple moving average of $85.89 and a 200-day simple moving average of $86.48.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 EPS 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%. As a group, analysts predict that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.39%. This is a boost from Amdocs's previous quarterly dividend of $0.48. Amdocs's payout ratio is currently 44.55%.

Wall Street Analysts Forecast Growth

DOX has been the topic of several analyst reports. Oppenheimer increased their price target on Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Barclays dropped their target price on Amdocs from $113.00 to $111.00 and set an "overweight" rating on the stock in a report on Thursday, November 14th. Finally, StockNews.com raised Amdocs from a "buy" rating to a "strong-buy" rating in a report on Wednesday, February 5th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Amdocs presently has an average rating of "Buy" and a consensus 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.