Tidal Investments LLC Increases Holdings in Amdocs Limited $DOX

Tidal Investments LLC increased its position in Amdocs Limited (NASDAQ:DOX) by 152.3% during the 2nd quarter, Holdings Channel reports. The firm owned 272,345 shares of the technology company’s stock after acquiring an additional 164,415 shares during the quarter. Tidal Investments LLC’s holdings in Amdocs were worth $13,764,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DOX. WealthCollab LLC raised its position in Amdocs by 94.5% during the 3rd quarter. WealthCollab LLC now owns 356 shares of the technology company’s stock valued at $29,000 after purchasing an additional 173 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new position in shares of Amdocs during the 4th quarter worth $37,000. Los Angeles Capital Management LLC purchased a new position in shares of Amdocs during the fourth quarter valued at $39,000. Advisory Services Network LLC bought a new stake in shares of Amdocs in the third quarter valued at about $42,000. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Amdocs by 190.2% in the third quarter. CIBC Private Wealth Group LLC now owns 595 shares of the technology company’s stock valued at $49,000 after acquiring an additional 390 shares in the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Trading Up 1.9%

DOX opened at $61.42 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.05 and a beta of 0.42. Amdocs Limited has a 12 month low of $49.74 and a 12 month high of $85.66. The stock has a fifty day moving average price of $57.16 and a 200-day moving average price of $60.62.

Amdocs (NASDAQ:DOX) last posted its earnings results on Thursday, August 6th. The technology company reported $1.84 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.84. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. Amdocs had a return on equity of 20.28% and a net margin of 9.75%.The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.72 earnings per share. As a group, equities research analysts anticipate that Amdocs Limited will post 6.56 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a $0.569 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.7%. Amdocs’s payout ratio is presently 54.29%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. KeyCorp initiated coverage on shares of Amdocs in a report on Monday, June 29th. They set a “sector weight” rating on the stock. Wall Street Zen upgraded shares of Amdocs from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amdocs in a research report on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $86.67.

Amdocs Profile

Amdocs Limited (NASDAQ: DOX) is a global provider of software and technology services for communications, media and entertainment companies. Its solutions help service providers manage customer relationships, product offerings, billing, ordering, network operations and digital experiences.

The company offers cloud-based and software-as-a-service platforms spanning business and operational support systems, customer experience management, monetization, network automation, data and artificial intelligence.