300 Shares in Amdocs Limited (NASDAQ:DOX) Bought by Oakworth Capital Inc.

Oakworth Capital Inc. purchased a new stake in Amdocs Limited (NASDAQ:DOX) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 300 shares of the technology company’s stock, valued at approximately $26,000.

Several other hedge funds and other institutional investors have also made changes to their positions in DOX. JPMorgan Chase & Co. purchased a new stake in shares of Amdocs in the 1st quarter valued at about $7,002,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Amdocs by 6.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 11,833 shares of the technology company’s stock valued at $973,000 after acquiring an additional 665 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Amdocs by 40.5% during the first quarter. PNC Financial Services Group Inc. now owns 13,332 shares of the technology company’s stock worth $1,097,000 after acquiring an additional 3,840 shares during the last quarter. Great West Life Assurance Co. Can grew its position in shares of Amdocs by 3.2% during the first quarter. Great West Life Assurance Co. Can now owns 46,252 shares of the technology company’s stock worth $4,041,000 after acquiring an additional 1,446 shares during the last quarter. Finally, Yousif Capital Management LLC increased its holdings in shares of Amdocs by 6.4% in the 1st quarter. Yousif Capital Management LLC now owns 6,770 shares of the technology company’s stock valued at $557,000 after acquiring an additional 405 shares during the period. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Wall Street Analyst Weigh In

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

Amdocs Price Performance

Shares of NASDAQ DOX opened at $85.11 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.29 and a current ratio of 1.29. Amdocs Limited has a one year low of $78.38 and a one year high of $99.75. The firm has a market capitalization of $10.00 billion, a P/E ratio of 18.22, a PEG ratio of 1.38 and a beta of 0.69. The company’s fifty day moving average is $90.10 and its two-hundred day moving average is $87.23.

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

Amdocs Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from Amdocs’s previous quarterly dividend of $0.44. Amdocs’s payout ratio is 41.11%.

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.