Amdocs Limited (NASDAQ:DOX) Shares Purchased by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC increased its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 8.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,323 shares of the technology company’s stock after purchasing an additional 339 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Amdocs were worth $341,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in DOX. Pzena Investment Management LLC increased its holdings in shares of Amdocs by 33.2% during the 2nd quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock worth $447,287,000 after buying an additional 1,412,826 shares during the last quarter. LSV Asset Management raised its holdings in shares of Amdocs by 7.9% in the 2nd quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock worth $253,109,000 after purchasing an additional 234,096 shares during the period. Vanguard Group Inc. grew its holdings in shares of Amdocs by 39.5% during the 1st quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock worth $183,771,000 after purchasing an additional 576,168 shares during the period. American Century Companies Inc. grew its holdings in shares of Amdocs by 7.9% during the 2nd quarter. American Century Companies Inc. now owns 1,991,086 shares of the technology company’s stock worth $157,137,000 after purchasing an additional 145,757 shares during the period. Finally, Brandes Investment Partners LP raised its holdings in Amdocs by 22.1% in the fourth quarter. Brandes Investment Partners LP now owns 1,402,646 shares of the technology company’s stock valued at $123,279,000 after buying an additional 254,304 shares during the period. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Stock Up 0.5 %

Shares of NASDAQ DOX opened at $86.94 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $94.04. The stock’s 50-day simple moving average is $84.25 and its 200-day simple moving average is $84.11. The firm has a market cap of $10.22 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 1.52 and a beta of 0.74.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.02. The company 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 17.89% and a net margin of 10.21%. Amdocs’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 EPS. As a group, equities analysts anticipate that Amdocs Limited will post 5.67 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs’s dividend payout ratio is currently 42.92%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Amdocs has an average rating of “Buy” and an average price target of $102.50.

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.