APG Asset Management N.V. Buys New Shares in Amdocs Limited (NASDAQ:DOX)

APG Asset Management N.V. acquired a new stake in Amdocs Limited (NASDAQ:DOX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 59,300 shares of the technology company's stock, valued at approximately $4,876,000. APG Asset Management N.V. owned 0.05% of Amdocs as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pzena Investment Management LLC raised its holdings in Amdocs by 4.3% in the fourth quarter. Pzena Investment Management LLC now owns 6,634,549 shares of the technology company's stock valued at $564,866,000 after buying an additional 270,810 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Amdocs by 2.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,263,591 shares of the technology company's stock worth $274,681,000 after purchasing an additional 87,801 shares during the last quarter. Vanguard Group Inc. raised its stake in Amdocs by 16.1% during the fourth quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company's stock worth $261,756,000 after acquiring an additional 426,035 shares during the period. Wellington Management Group LLP boosted its stake in Amdocs by 25.4% in the fourth quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company's stock valued at $228,211,000 after acquiring an additional 543,490 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in shares of Amdocs by 7.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company's stock valued at $154,587,000 after purchasing an additional 125,654 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Amdocs from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $101.20.

Amdocs Stock Performance

DOX stock traded down $0.12 during trading on Thursday, reaching $83.16. 174,710 shares of the company's stock were exchanged, compared to its average volume of 722,473. The firm has a market cap of $9.39 billion, a PE ratio of 19.29, a P/E/G ratio of 1.47 and a beta of 0.59. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $93.34. The company's fifty day moving average price is $87.51 and its 200-day moving average price is $87.19.

Amdocs (NASDAQ:DOX - Get Free Report) last released its earnings results on Tuesday, February 4th. The technology company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. On average, research analysts expect that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.527 per share. This is a positive change from Amdocs's previous quarterly dividend of $0.48. This represents a $2.11 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Monday, March 31st. Amdocs's dividend payout ratio (DPR) is presently 48.72%.

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.