Wasatch Advisors LP Makes New Investment in Amdocs Limited (NASDAQ:DOX)

Wasatch Advisors LP acquired a new position in shares of Amdocs Limited (NASDAQ:DOX) during the 1st quarter, Holdings Channel reports. The firm acquired 21,500 shares of the technology company’s stock, valued at approximately $1,943,000.

Several other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in shares of Amdocs in the fourth quarter worth $25,000. Oakworth Capital Inc. bought a new position in shares of Amdocs in the fourth quarter worth $26,000. Norwood Financial Corp bought a new position in shares of Amdocs in the first quarter worth $33,000. VisionPoint Advisory Group LLC increased its position in shares of Amdocs by 77.7% in the third quarter. VisionPoint Advisory Group LLC now owns 503 shares of the technology company’s stock worth $42,000 after purchasing an additional 220 shares during the period. Finally, Riverview Trust Co acquired a new stake in Amdocs in the first quarter valued at about $55,000. Institutional investors own 92.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. Citigroup decreased their target price on Amdocs from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Finally, Robert W. Baird decreased their target price on Amdocs from $97.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Amdocs currently has an average rating of “Moderate Buy” and an average target price of $103.80.

Amdocs Trading Up 1.0 %

Shares of NASDAQ:DOX traded up $0.75 during midday trading on Tuesday, hitting $79.42. 710,959 shares of the stock were exchanged, compared to its average volume of 731,672. The stock has a market capitalization of $9.34 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 1.39 and a beta of 0.74. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.32 and a current ratio of 1.32. The business’s 50-day moving average price is $80.25 and its 200 day moving average price is $86.54. Amdocs Limited has a 12 month low of $74.41 and a 12 month high of $98.84.

Amdocs (NASDAQ:DOX) last released its quarterly earnings results on Wednesday, May 8th. The technology company reported $1.38 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.05). The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.25 billion. Amdocs had a return on equity of 17.85% and a net margin of 10.62%. Analysts predict that Amdocs Limited will post 5.72 earnings per share for the current year.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be issued a $0.479 dividend. This represents a $1.92 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Friday, June 28th. Amdocs’s payout ratio is presently 43.15%.

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.