Pzena Investment Management LLC Has $564.87 Million Stock Position in Amdocs Limited (NASDAQ:DOX)

Pzena Investment Management LLC increased its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,634,549 shares of the technology company's stock after purchasing an additional 270,810 shares during the quarter. Amdocs accounts for about 2.0% of Pzena Investment Management LLC's investment portfolio, making the stock its 23rd largest holding. Pzena Investment Management LLC owned approximately 5.88% of Amdocs worth $564,866,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DOX. Asset Management One Co. Ltd. grew its position in shares of Amdocs by 37.9% during the third quarter. Asset Management One Co. Ltd. now owns 2,175 shares of the technology company's stock worth $190,000 after buying an additional 598 shares in the last quarter. QRG Capital Management Inc. bought a new position in Amdocs during the third quarter worth $208,000. Verdence Capital Advisors LLC lifted its stake in Amdocs by 5.6% during the third quarter. Verdence Capital Advisors LLC now owns 4,375 shares of the technology company's stock worth $383,000 after purchasing an additional 232 shares during the last quarter. Atria Investments Inc lifted its stake in Amdocs by 7.2% during the third quarter. Atria Investments Inc now owns 9,408 shares of the technology company's stock worth $823,000 after purchasing an additional 634 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Amdocs by 12.5% during the third quarter. Venturi Wealth Management LLC now owns 11,725 shares of the technology company's stock worth $1,026,000 after purchasing an additional 1,305 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company's stock.

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Amdocs Trading Down 0.8 %

DOX traded down $0.75 during trading on Wednesday, reaching $88.04. The company had a trading volume of 414,214 shares, compared to its average volume of 664,252. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $93.83. The company has a market cap of $9.94 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.47 and a beta of 0.68. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. The firm's 50-day simple moving average is $86.54 and its 200 day simple moving average is $87.03.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a return on equity of 18.89% and a net margin of 10.19%. Equities research analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Increases Dividend

The company also recently declared 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 is a boost from Amdocs's previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 2.39%. Amdocs's dividend payout ratio is 48.72%.

Analyst Ratings Changes

DOX has been the topic of a number of recent research reports. Barclays cut their target price on Amdocs from $113.00 to $111.00 and set an "overweight" rating on the stock in a research note on Thursday, November 14th. StockNews.com cut Amdocs from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. Finally, Oppenheimer raised their target price on Amdocs from $98.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.