Riverwater Partners LLC Increases Stock Position in Amdocs Limited (NASDAQ:DOX)

Riverwater Partners LLC lifted its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 100.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,937 shares of the technology company's stock after acquiring an additional 8,479 shares during the period. Riverwater Partners LLC's holdings in Amdocs were worth $1,442,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new stake in Amdocs in the 4th quarter valued at about $36,000. SBI Securities Co. Ltd. purchased a new stake in Amdocs during the fourth quarter worth about $41,000. Global Retirement Partners LLC raised its position in Amdocs by 45.6% in the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company's stock worth $48,000 after acquiring an additional 175 shares during the period. Private Trust Co. NA boosted its stake in Amdocs by 121.5% in the fourth quarter. Private Trust Co. NA now owns 671 shares of the technology company's stock valued at $57,000 after acquiring an additional 368 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Amdocs by 199.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 686 shares of the technology company's stock valued at $59,000 after acquiring an additional 457 shares during the period. 92.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Amdocs from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Amdocs presently has an average rating of "Moderate Buy" and an average price target of $101.20.

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Amdocs Stock Performance

Amdocs stock traded down $3.50 during mid-day trading on Thursday, reaching $81.82. The company's stock had a trading volume of 412,834 shares, compared to its average volume of 697,436. The company has a market capitalization of $9.24 billion, a P/E ratio of 18.94, a PEG ratio of 1.47 and a beta of 0.59. The firm's fifty day moving average price is $87.85 and its two-hundred day moving average price is $87.31. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $93.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16.

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

Amdocs Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be given a dividend of $0.527 per share. This is a positive change from Amdocs's previous quarterly dividend of $0.48. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Monday, March 31st. Amdocs's payout ratio is 48.72%.

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.