Brown Advisory Inc. Purchases 41,846 Shares of Amdocs Limited (NASDAQ:DOX)

Brown Advisory Inc. raised its position in Amdocs Limited (NASDAQ:DOX - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 938,918 shares of the technology company's stock after purchasing an additional 41,846 shares during the period. Brown Advisory Inc. owned 0.83% of Amdocs worth $79,939,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Alyeska Investment Group L.P. grew its holdings in shares of Amdocs by 86.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company's stock worth $143,127,000 after purchasing an additional 781,061 shares in the last quarter. Aptus Capital Advisors LLC lifted its position in Amdocs by 22.3% during the fourth quarter. Aptus Capital Advisors LLC now owns 43,727 shares of the technology company's stock valued at $3,723,000 after purchasing an additional 7,961 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Amdocs by 89.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,646 shares of the technology company's stock valued at $736,000 after purchasing an additional 4,086 shares during the last quarter. Jane Street Group LLC grew its stake in Amdocs by 111.9% in the 4th quarter. Jane Street Group LLC now owns 39,246 shares of the technology company's stock worth $3,341,000 after buying an additional 20,723 shares in the last quarter. Finally, Rehmann Capital Advisory Group increased its holdings in shares of Amdocs by 2.7% in the 4th quarter. Rehmann Capital Advisory Group now owns 16,378 shares of the technology company's stock worth $1,394,000 after buying an additional 429 shares during the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Stock Up 0.9 %

Shares of DOX opened at $89.39 on Monday. The firm has a market cap of $10.09 billion, a P/E ratio of 20.74, a P/E/G ratio of 1.47 and a beta of 0.59. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $93.34. The stock has a 50 day simple moving average of $87.01 and a two-hundred day simple moving average of $86.97. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20.

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, analysts forecast 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. Stockholders of record on Monday, March 31st were paid a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Monday, March 31st. This is a positive change from Amdocs's previous quarterly dividend of $0.48. Amdocs's payout ratio is 48.72%.

Wall Street Analysts Forecast Growth

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

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.

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