Summit Global Investments Makes New $1.81 Million Investment in Amdocs Limited (NASDAQ:DOX)

Summit Global Investments purchased a new position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 21,300 shares of the technology company's stock, valued at approximately $1,813,000.

Several other institutional investors also recently added to or reduced their stakes in DOX. Private Trust Co. NA raised its holdings in shares of Amdocs by 62.9% in the third quarter. Private Trust Co. NA now owns 303 shares of the technology company's stock valued at $27,000 after buying an additional 117 shares during the last quarter. Brooklyn Investment Group acquired a new position in Amdocs in the 3rd quarter valued at about $28,000. Jones Financial Companies Lllp purchased a new stake in Amdocs during the 4th quarter valued at approximately $36,000. SBI Securities Co. Ltd. acquired a new stake in Amdocs during the 4th quarter worth approximately $41,000. Finally, Global Retirement Partners LLC grew its stake in shares of Amdocs by 45.6% in 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 during the last quarter. Institutional investors and hedge funds own 92.02% of the company's stock.

Amdocs Stock Performance

DOX traded up $0.05 during trading on Thursday, reaching $92.02. The company's stock had a trading volume of 504,135 shares, compared to its average volume of 656,896. 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 company's fifty day moving average price is $87.62 and its 200-day moving average price is $87.26. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $93.34. The company has a market capitalization of $10.39 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 1.47 and a beta of 0.68.

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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 net margin of 10.19% and a return on equity of 18.89%. On average, equities analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders 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 annualized dividend and a yield of 2.29%. The ex-dividend date is Monday, March 31st. Amdocs's dividend payout ratio is presently 48.72%.

Wall Street Analyst Weigh In

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

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.