Vanguard Group Inc. Purchases 426,035 Shares of Amdocs Limited (NASDAQ:DOX)

Vanguard Group Inc. grew its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 16.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,074,424 shares of the technology company's stock after purchasing an additional 426,035 shares during the quarter. Vanguard Group Inc. owned approximately 2.72% of Amdocs worth $261,756,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp acquired a new position in Amdocs in the 4th quarter valued at approximately $36,000. SBI Securities Co. Ltd. acquired a new stake in Amdocs in the fourth quarter valued at $41,000. Global Retirement Partners LLC raised its position in Amdocs by 45.6% during the 4th quarter. Global Retirement Partners LLC now owns 559 shares of the technology company's stock worth $48,000 after purchasing an additional 175 shares during the last quarter. Private Trust Co. NA lifted its holdings in Amdocs by 121.5% during the 4th quarter. Private Trust Co. NA now owns 671 shares of the technology company's stock worth $57,000 after buying an additional 368 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in shares of Amdocs by 199.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 686 shares of the technology company's stock valued at $59,000 after buying an additional 457 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors.

Amdocs Stock Up 6.0 %

DOX stock traded up $4.86 during trading on Wednesday, reaching $85.32. 1,425,609 shares of the stock were exchanged, compared to its average volume of 698,390. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $93.34. The firm's 50 day moving average is $87.85 and its 200 day moving average is $87.31. The firm has a market cap of $9.63 billion, a P/E ratio of 19.80, a price-to-earnings-growth ratio of 1.47 and a beta of 0.59.

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Amdocs (NASDAQ:DOX - Get Free Report) last issued its earnings results 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%. As a group, research analysts forecast that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Increases Dividend

The firm also recently announced 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. The ex-dividend date is Monday, March 31st. This is an increase from Amdocs's previous quarterly dividend of $0.48. This represents a $2.11 annualized dividend and a dividend yield of 2.47%. Amdocs's payout ratio is presently 48.72%.

Analysts Set New Price Targets

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