Summit Financial LLC Buys Shares of 3,892 Amdocs Limited (NASDAQ:DOX)

Summit Financial LLC bought a new position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,892 shares of the technology company's stock, valued at approximately $333,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its holdings in shares of Amdocs by 25.4% during the fourth quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company's stock worth $228,211,000 after buying an additional 543,490 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Amdocs during the 4th quarter worth approximately $44,494,000. Vanguard Group Inc. boosted its stake in shares of Amdocs by 16.1% in the 4th quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company's stock valued at $261,756,000 after purchasing an additional 426,035 shares in the last quarter. Pzena Investment Management LLC increased its holdings in shares of Amdocs by 4.3% during the fourth quarter. Pzena Investment Management LLC now owns 6,634,549 shares of the technology company's stock worth $564,866,000 after buying an additional 270,810 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Amdocs by 1,207.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 271,701 shares of the technology company's stock worth $23,768,000 after acquiring an additional 250,918 shares during the last quarter. Institutional investors own 92.02% of the company's stock.

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Wall Street Analyst Weigh In

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

Amdocs Trading Up 1.1 %

NASDAQ:DOX traded up $0.91 on Tuesday, hitting $82.99. 220,429 shares of the stock were exchanged, compared to its average volume of 691,573. 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 Limited has a 52 week low of $74.41 and a 52 week high of $93.34. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 1.47 and a beta of 0.59. The company's 50-day moving average price is $88.19 and its 200 day moving average price is $87.42.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly 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 return on equity of 18.89% and a net margin of 10.19%. On average, equities research analysts forecast that Amdocs Limited will post 6.21 earnings per share 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 paid a $0.527 dividend. This represents a $2.11 annualized dividend and a yield of 2.54%. The ex-dividend date is Monday, March 31st. This is an increase from Amdocs's previous quarterly dividend of $0.48. Amdocs's dividend payout ratio is presently 48.72%.

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.