Knightsbridge Asset Management LLC Takes Position in Amdocs Limited (NASDAQ:DOX)

Knightsbridge Asset Management LLC bought a new position in Amdocs Limited (NASDAQ:DOX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,400 shares of the technology company’s stock, valued at approximately $290,000.

Several other hedge funds and other institutional investors have also bought and sold shares of DOX. Nordea Investment Management AB increased its stake in Amdocs by 8.3% in the 4th quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company’s stock worth $141,112,000 after purchasing an additional 127,426 shares during the period. Pacer Advisors Inc. raised its holdings in Amdocs by 7.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock valued at $154,587,000 after buying an additional 125,654 shares during the last quarter. Dudley & Shanley Inc. grew its holdings in Amdocs by 7.6% in the 3rd quarter. Dudley & Shanley Inc. now owns 261,826 shares of the technology company’s stock worth $22,905,000 after acquiring an additional 18,600 shares during the last quarter. Range Financial Group LLC purchased a new position in shares of Amdocs in the fourth quarter valued at about $1,376,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Amdocs by 6.6% during the third quarter. Principal Financial Group Inc. now owns 1,032,867 shares of the technology company’s stock worth $90,355,000 after purchasing an additional 63,718 shares during the period. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Amdocs Price Performance

Shares of NASDAQ:DOX opened at $85.82 on Friday. The company has a market capitalization of $9.69 billion, a PE ratio of 19.91, a PEG ratio of 1.47 and a beta of 0.59. The business has a fifty day moving average price of $87.14 and a 200-day moving average price of $87.03. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $93.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20.

Amdocs (NASDAQ:DOX) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities analysts expect that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be paid a $0.527 dividend. The ex-dividend date is Monday, March 31st. This is a positive change from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.46%. Amdocs’s payout ratio is currently 48.72%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.