OLD National Bancorp IN Acquires New Stake in Amdocs Limited (NASDAQ:DOX)

OLD National Bancorp IN purchased a new stake in shares of Amdocs Limited (NASDAQ:DOX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,891 shares of the technology company’s stock, valued at approximately $254,000.

Several other hedge funds have also bought and sold shares of DOX. Acadian Asset Management LLC bought a new stake in Amdocs during the third quarter valued at about $96,934,000. Invesco Ltd. boosted its stake in shares of Amdocs by 31.0% in 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 stake in shares of Amdocs by 333.7% in 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 stake in shares of Amdocs by 2,132.9% in 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 stake in shares of Amdocs by 39.2% in 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.

Amdocs Trading Down 1.3 %

Shares of DOX stock opened at $85.64 on Friday. Amdocs Limited has a 1 year low of $78.38 and a 1 year high of $99.75. 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 stock’s 50 day simple moving average is $89.75 and its two-hundred day simple moving average is $87.31. The company has a market cap of $10.07 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 1.41 and a beta of 0.69.

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

Amdocs Increases Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from Amdocs’s previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a yield of 2.24%. Amdocs’s dividend payout ratio is 41.11%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 15th. Citigroup increased their price target on Amdocs from $96.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Barclays increased their price target on Amdocs from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $108.60.

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.