3,395 Shares in Amdocs Limited (NASDAQ:DOX) Purchased by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC purchased a new position in shares of Amdocs Limited (NASDAQ:DOX) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 3,395 shares of the technology company’s stock, valued at approximately $298,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DOX. Acadian Asset Management LLC bought a new stake in shares of Amdocs during the third quarter worth approximately $96,934,000. Invesco Ltd. boosted its holdings in shares of Amdocs by 31.0% during the third quarter. Invesco Ltd. now owns 2,629,346 shares of the technology company’s stock worth $222,153,000 after acquiring an additional 621,962 shares during the period. Qube Research & Technologies Ltd boosted its holdings in shares of Amdocs by 333.7% during the third quarter. Qube Research & Technologies Ltd now owns 449,788 shares of the technology company’s stock worth $38,003,000 after acquiring an additional 346,071 shares during the period. Meitav Investment House Ltd. boosted its holdings in shares of Amdocs by 2,132.9% during the third quarter. Meitav Investment House Ltd. now owns 299,214 shares of the technology company’s stock worth $25,609,000 after acquiring an additional 285,814 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Amdocs by 39.2% during the third quarter. The Manufacturers Life Insurance Company now owns 796,767 shares of the technology company’s stock worth $67,319,000 after acquiring an additional 224,518 shares during the period. Institutional investors own 92.02% of the company’s stock.

Analyst Ratings Changes

DOX has been the subject of a number of analyst reports. Barclays lifted their price target on shares of Amdocs from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. Finally, Citigroup lifted their price target on shares of Amdocs from $96.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Amdocs currently has an average rating of “Buy” and an average price target of $108.60.

Amdocs Stock Up 0.3 %

Shares of DOX opened at $86.57 on Wednesday. Amdocs Limited has a one year low of $78.38 and a one year high of $99.75. The company has a market cap of $10.18 billion, a P/E ratio of 18.54, a P/E/G ratio of 1.40 and a beta of 0.69. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a 50 day simple moving average of $89.93 and a two-hundred day simple moving average of $87.33.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.40 by $0.16. Amdocs had a net margin of 11.30% and a return on equity of 17.79%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the business earned $1.33 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. Research analysts forecast that Amdocs Limited will post 5.87 EPS for the current fiscal year.

Amdocs Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, March 29th will be given a dividend of $0.479 per share. This is an increase from Amdocs’s previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Wednesday, March 27th. Amdocs’s payout ratio is currently 40.90%.

About Amdocs

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.