Morningstar Investment Management LLC Takes $258,000 Position in Amdocs Limited $DOX

Morningstar Investment Management LLC bought a new stake in shares of Amdocs Limited (NASDAQ:DOX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,827 shares of the technology company’s stock, valued at approximately $258,000.

Other institutional investors also recently made changes to their positions in the company. Cornerstone Planning Group LLC bought a new position in shares of Amdocs during the first quarter valued at approximately $27,000. Quarry LP grew its holdings in shares of Amdocs by 42.2% during the first quarter. Quarry LP now owns 391 shares of the technology company’s stock valued at $36,000 after purchasing an additional 116 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of Amdocs during the first quarter valued at approximately $39,000. SVB Wealth LLC bought a new position in shares of Amdocs during the first quarter valued at approximately $43,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Amdocs by 213.9% during the first quarter. Geneos Wealth Management Inc. now owns 700 shares of the technology company’s stock valued at $64,000 after purchasing an additional 477 shares during the last quarter. 92.02% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DOX. Weiss Ratings reissued a “hold (c+)” rating on shares of Amdocs in a report on Wednesday, October 8th. Wall Street Zen raised Amdocs from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Wolfe Research began coverage on Amdocs in a report on Tuesday, July 8th. They issued an “outperform” rating for the company. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $108.00.

Amdocs Stock Performance

DOX opened at $83.66 on Wednesday. The company has a market capitalization of $9.44 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 1.36 and a beta of 0.51. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. Amdocs Limited has a 1-year low of $78.61 and a 1-year high of $95.41. The business has a 50 day moving average price of $84.71 and a two-hundred day moving average price of $87.59.

Amdocs (NASDAQ:DOX) last released its earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.01. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. Amdocs had a return on equity of 19.66% and a net margin of 11.94%.The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.62 earnings per share. Research analysts predict that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, September 30th. Amdocs’s dividend payout ratio is 42.60%.

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.