Amdocs Limited (NASDAQ:DOX) Stake Lifted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 511,024 shares of the technology company's stock after buying an additional 17,884 shares during the quarter. Envestnet Asset Management Inc. owned about 0.45% of Amdocs worth $43,509,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of DOX. Jones Financial Companies Lllp purchased a new position in Amdocs in the fourth quarter valued at $36,000. SBI Securities Co. Ltd. purchased a new stake in shares of Amdocs in the 4th quarter valued at approximately $41,000. Global Retirement Partners LLC increased its stake in Amdocs by 45.6% during the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company's stock worth $48,000 after acquiring an additional 175 shares during the last quarter. Private Trust Co. NA raised its holdings in Amdocs by 121.5% in the 4th quarter. Private Trust Co. NA now owns 671 shares of the technology company's stock valued at $57,000 after buying an additional 368 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of Amdocs by 199.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 686 shares of the technology company's stock worth $59,000 after purchasing an additional 457 shares during the period. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Price Performance

Amdocs stock traded down $0.20 during midday trading on Wednesday, reaching $84.35. 141,379 shares of the company were exchanged, compared to its average volume of 698,974. The firm's 50-day simple moving average is $87.57 and its 200-day simple moving average is $87.22. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. The company has a market capitalization of $9.52 billion, a price-to-earnings ratio of 19.59, 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.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 anticipate that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be paid a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Amdocs's previous quarterly dividend of $0.48. Amdocs's dividend payout ratio is 48.72%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered 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 issued a buy rating to the stock. According to MarketBeat, Amdocs has a consensus rating of "Moderate Buy" and an average price target of $101.20.

Amdocs Company 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.