Royal London Asset Management Ltd. Purchases 1,217 Shares of Amdocs Limited (NASDAQ:DOX)

Royal London Asset Management Ltd. increased its position in shares of Amdocs Limited (NASDAQ:DOX) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,632 shares of the technology company’s stock after acquiring an additional 1,217 shares during the quarter. Royal London Asset Management Ltd. owned about 0.05% of Amdocs worth $5,681,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bahl & Gaynor Inc. raised its holdings in Amdocs by 2.6% during the 4th quarter. Bahl & Gaynor Inc. now owns 377,316 shares of the technology company’s stock worth $33,162,000 after buying an additional 9,436 shares during the period. New York State Teachers Retirement System acquired a new stake in Amdocs during the 4th quarter worth approximately $930,000. Stifel Financial Corp raised its holdings in Amdocs by 2.7% during the 4th quarter. Stifel Financial Corp now owns 950,353 shares of the technology company’s stock worth $83,526,000 after buying an additional 25,300 shares during the period. Diversified Trust Co acquired a new stake in Amdocs during the 4th quarter worth approximately $3,957,000. Finally, Wedge Capital Management L L P NC raised its holdings in Amdocs by 9.3% during the 4th quarter. Wedge Capital Management L L P NC now owns 917,808 shares of the technology company’s stock worth $80,666,000 after buying an additional 77,833 shares during the period. Institutional investors own 92.02% of the company’s stock.

Amdocs Price Performance

DOX stock traded down $0.91 during midday trading on Friday, reaching $74.90. The company had a trading volume of 944,653 shares, compared to its average volume of 717,912. The company has a market capitalization of $8.80 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 1.34 and a beta of 0.74. The stock has a 50 day moving average price of $82.24 and a 200-day moving average price of $87.13. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $99.75. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.32 and a quick ratio of 1.32.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings results on Wednesday, May 8th. The technology company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.05). The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.25 billion. Amdocs had a net margin of 10.62% and a return on equity of 17.85%. Equities research analysts expect that Amdocs Limited will post 5.72 earnings per share for the current year.

Amdocs Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a yield of 2.56%. The ex-dividend date is Friday, June 28th. Amdocs’s payout ratio is 42.92%.

Wall Street Analysts Forecast Growth

DOX has been the topic of a number of recent research reports. Robert W. Baird lowered their price objective on shares of Amdocs from $97.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Citigroup lowered their target price on shares of Amdocs from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Amdocs presently has an average rating of “Moderate Buy” and an average target price of $104.83.

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.