AQR Capital Management LLC Grows Stake in Amdocs Limited (NASDAQ:DOX)

AQR Capital Management LLC increased its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 667,915 shares of the technology company's stock after purchasing an additional 49,269 shares during the quarter. AQR Capital Management LLC owned approximately 0.59% of Amdocs worth $56,866,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Nordea Investment Management AB boosted its position in shares of Amdocs by 8.3% in the 4th quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company's stock valued at $141,112,000 after purchasing an additional 127,426 shares during the period. Pacer Advisors Inc. grew its position 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 worth $154,587,000 after acquiring an additional 125,654 shares during the last quarter. Range Financial Group LLC acquired a new position in shares of Amdocs in the 4th quarter valued at $1,376,000. Principal Financial Group Inc. boosted its stake in Amdocs by 6.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,032,867 shares of the technology company's stock worth $90,355,000 after purchasing an additional 63,718 shares during the period. Finally, Franklin Resources Inc. increased its stake in Amdocs by 71.6% in the third quarter. Franklin Resources Inc. now owns 152,230 shares of the technology company's stock valued at $13,580,000 after purchasing an additional 63,527 shares during the period. 92.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Amdocs from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Amdocs has an average rating of "Moderate Buy" and an average target price of $101.20.

Amdocs Price Performance

Amdocs stock traded up $0.76 during trading hours on Friday, hitting $89.39. The stock had a trading volume of 404,371 shares, compared to its average volume of 700,905. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $93.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20. The stock's fifty day moving average is $87.01 and its two-hundred day moving average is $87.00. The stock has a market capitalization of $10.09 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 1.47 and a beta of 0.59.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 earnings per share (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%. As a group, analysts predict that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 31st were issued a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 2.36%. This is an increase from Amdocs's previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Monday, March 31st. Amdocs's payout ratio 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.