Wells Fargo & Company MN Has $17.48 Million Stock Position in Amdocs Limited (NASDAQ:DOX)

Wells Fargo & Company MN raised its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,265 shares of the technology company's stock after purchasing an additional 4,326 shares during the period. Wells Fargo & Company MN owned approximately 0.18% of Amdocs worth $17,476,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its stake in Amdocs by 2.1% in the 3rd quarter. HighTower Advisors LLC now owns 12,813 shares of the technology company's stock valued at $1,122,000 after purchasing an additional 265 shares during the last quarter. Barclays PLC increased its holdings in shares of Amdocs by 6.3% during the third quarter. Barclays PLC now owns 290,376 shares of the technology company's stock worth $25,402,000 after buying an additional 17,097 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Amdocs by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,633,733 shares of the technology company's stock valued at $143,498,000 after acquiring an additional 158,843 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Amdocs during the 3rd quarter valued at $130,000. Finally, Tidal Investments LLC grew its position in Amdocs by 2.6% during the 3rd quarter. Tidal Investments LLC now owns 113,671 shares of the technology company's stock worth $9,944,000 after acquiring an additional 2,885 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors.

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Amdocs Trading Up 0.5 %

Shares of DOX stock traded up $0.45 on Tuesday, hitting $84.55. The company had a trading volume of 573,619 shares, compared to its average volume of 701,140. The stock's 50-day moving average is $87.59 and its two-hundred day moving average is $87.23. 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 has a market cap of $9.54 billion, a P/E ratio of 19.62, a P/E/G ratio of 1.47 and a beta of 0.59. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $93.34.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its quarterly 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%. On average, equities research analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.527 per share. The ex-dividend date is Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 2.49%. This is a positive change from Amdocs's previous quarterly dividend of $0.48. Amdocs's dividend payout ratio is currently 48.72%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $101.20.

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.