Ritholtz Wealth Management Boosts Holdings in Amdocs Limited $DOX

Ritholtz Wealth Management grew its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 445.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,425 shares of the technology company’s stock after acquiring an additional 14,230 shares during the quarter. Ritholtz Wealth Management’s holdings in Amdocs were worth $1,590,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on DOX shares. Wolfe Research started coverage on shares of Amdocs in a report on Tuesday, July 8th. They issued an “outperform” rating on the stock. Wall Street Zen upgraded shares of Amdocs from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Amdocs in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Amdocs presently has a consensus rating of “Moderate Buy” and an average price target of $108.00.

Amdocs Stock Performance

NASDAQ:DOX opened at $82.94 on Friday. The stock has a market cap of $9.36 billion, a P/E ratio of 16.82, a price-to-earnings-growth ratio of 1.37 and a beta of 0.51. The firm’s fifty day simple moving average is $84.41 and its 200 day simple moving average is $87.43. Amdocs Limited has a twelve month low of $78.61 and a twelve month high of $95.41. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23.

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

Amdocs Announces Dividend

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

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.