Corbyn Investment Management Inc. MD Buys 3,817 Shares of Amdocs Limited (NASDAQ:DOX)

Corbyn Investment Management Inc. MD lifted its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 11.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,507 shares of the technology company’s stock after buying an additional 3,817 shares during the quarter. Amdocs comprises 1.5% of Corbyn Investment Management Inc. MD’s investment portfolio, making the stock its 26th biggest position. Corbyn Investment Management Inc. MD’s holdings in Amdocs were worth $3,209,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of DOX. Financiere des Professionnels Fonds d investissement inc. lifted its stake in Amdocs by 1.3% in the 4th quarter. Financiere des Professionnels Fonds d investissement inc. now owns 9,790 shares of the technology company’s stock worth $860,000 after purchasing an additional 130 shares in the last quarter. First Eagle Investment Management LLC raised its position in shares of Amdocs by 6.3% during the 3rd quarter. First Eagle Investment Management LLC now owns 2,448 shares of the technology company’s stock valued at $207,000 after buying an additional 145 shares in the last quarter. CI Investments Inc. raised its position in shares of Amdocs by 0.7% during the 3rd quarter. CI Investments Inc. now owns 21,000 shares of the technology company’s stock valued at $1,774,000 after buying an additional 152 shares in the last quarter. Balentine LLC raised its position in shares of Amdocs by 5.3% during the 3rd quarter. Balentine LLC now owns 3,050 shares of the technology company’s stock valued at $258,000 after buying an additional 153 shares in the last quarter. Finally, Wahed Invest LLC raised its position in shares of Amdocs by 9.8% during the 3rd quarter. Wahed Invest LLC now owns 1,870 shares of the technology company’s stock valued at $158,000 after buying an additional 167 shares in the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on DOX. Barclays lifted their price target on shares of Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. Finally, Citigroup boosted their target price on shares of Amdocs from $96.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $108.60.

Amdocs Price Performance

Amdocs stock traded down $0.65 during mid-day trading on Friday, reaching $84.99. 218,013 shares of the company’s stock traded hands, compared to its average volume of 644,784. The company has a market cap of $9.99 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 1.41 and a beta of 0.69. The stock has a 50 day moving average of $89.75 and a two-hundred day moving average of $87.31. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.21. Amdocs Limited has a 12-month low of $78.38 and a 12-month high of $99.75.

Amdocs (NASDAQ:DOX) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.24 billion. During the same quarter in the prior year, the firm earned $1.33 earnings per share. Amdocs’s revenue was up 5.0% on a year-over-year basis. Equities analysts forecast that Amdocs Limited will post 5.87 earnings per share for the current year.

Amdocs Increases Dividend

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

Amdocs 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.