Russell Investments Group Ltd. increased its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 32.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 979,861 shares of the technology company's stock after buying an additional 242,093 shares during the period. Russell Investments Group Ltd. owned about 0.87% of Amdocs worth $83,426,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp acquired a new position in Amdocs in the 4th quarter valued at about $36,000. SBI Securities Co. Ltd. purchased a new stake in shares of Amdocs during the 4th quarter valued at about $41,000. Global Retirement Partners LLC grew its holdings in Amdocs by 45.6% during the 4th quarter. Global Retirement Partners LLC now owns 559 shares of the technology company's stock valued at $48,000 after purchasing an additional 175 shares in the last quarter. Private Trust Co. NA boosted its holdings 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 purchasing 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 fourth quarter. Smartleaf Asset Management LLC now owns 686 shares of the technology company's stock worth $59,000 after buying an additional 457 shares in the last quarter. Hedge funds and other institutional investors own 92.02% of the company's stock.
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 research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $101.20.
Read Our Latest Analysis on DOX
Amdocs Stock Up 0.6 %
Shares of DOX traded up $0.47 during trading hours on Friday, hitting $82.68. 315,992 shares of the company were exchanged, compared to its average volume of 698,993. 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 moving average is $87.75 and its 200-day moving average is $87.28. The company has a market cap of $9.33 billion, a PE ratio of 19.19, a PEG ratio of 1.47 and a beta of 0.59. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $93.34.
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 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%. On average, equities research analysts forecast that Amdocs Limited will post 6.21 EPS for the current fiscal 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. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Amdocs's previous quarterly dividend of $0.48. This represents a $2.11 annualized dividend and a yield of 2.55%. Amdocs's dividend payout ratio (DPR) is 48.72%.
Amdocs Profile
(
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.
Further Reading
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