38,980 Shares of Amdocs Limited $DOX Bought by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC acquired a new stake in Amdocs Limited (NASDAQ:DOX) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 38,980 shares of the technology company’s stock, valued at approximately $2,229,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pzena Investment Management LLC boosted its position in shares of Amdocs by 5.4% during the 1st quarter. Pzena Investment Management LLC now owns 12,681,089 shares of the technology company’s stock valued at $827,568,000 after purchasing an additional 644,074 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Amdocs by 19.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,463,797 shares of the technology company’s stock worth $226,045,000 after purchasing an additional 571,036 shares in the last quarter. Bank of America Corp DE lifted its stake in Amdocs by 29.1% in the first quarter. Bank of America Corp DE now owns 1,262,263 shares of the technology company’s stock valued at $82,375,000 after buying an additional 284,435 shares during the period. First Trust Advisors LP lifted its stake in Amdocs by 13.9% in the first quarter. First Trust Advisors LP now owns 1,077,258 shares of the technology company’s stock valued at $70,302,000 after buying an additional 131,197 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in Amdocs by 41.6% in the first quarter. Pacer Advisors Inc. now owns 448,722 shares of the technology company’s stock valued at $29,284,000 after buying an additional 131,913 shares during the period. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Stock Up 0.9%

Shares of DOX traded up $0.52 during trading hours on Tuesday, hitting $59.27. The stock had a trading volume of 153,424 shares, compared to its average volume of 1,239,186. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a 50 day simple moving average of $59.76 and a 200-day simple moving average of $59.39. The firm has a market capitalization of $6.40 billion, a P/E ratio of 14.11, a price-to-earnings-growth ratio of 0.94 and a beta of 0.44. Amdocs Limited has a 1-year low of $49.74 and a 1-year high of $85.63.

Amdocs (NASDAQ:DOX) last issued its earnings results on Thursday, August 6th. The technology company reported $1.84 EPS for the quarter, meeting analysts’ consensus estimates of $1.84. Amdocs had a return on equity of 20.28% and a net margin of 9.75%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the company posted $1.72 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. Sell-side analysts predict that Amdocs Limited will post 6.56 EPS for the current fiscal year.

Amdocs Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.5690 per share. The ex-dividend date is Wednesday, September 30th. This represents a $2.28 annualized dividend and a dividend yield of 3.8%. Amdocs’s payout ratio is currently 54.05%.

Analysts Set New Price Targets

A number of research firms have issued reports on DOX. Wall Street Zen upgraded Amdocs from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Weiss Ratings lowered shares of Amdocs from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday. Finally, KeyCorp began coverage on shares of Amdocs in a research report on Monday, June 29th. They set a “sector weight” rating on the stock. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Amdocs presently has an average rating of “Hold” and a consensus price target of $86.67.

About Amdocs

Amdocs Limited (NASDAQ: DOX) is a global provider of software and services for communications, media and entertainment companies. Its offerings help service providers manage customer relationships, billing, product catalogs, ordering, network operations and digital experiences across consumer and enterprise markets.

The company provides business support systems and operational support systems, along with cloud-based platforms, artificial intelligence and data solutions, cybersecurity, network services and managed services.