31,582 Shares in Amdocs Limited (NASDAQ:DOX) Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC bought a new position in Amdocs Limited (NASDAQ:DOX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 31,582 shares of the technology company's stock, valued at approximately $2,890,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Planning Group LLC bought a new position in Amdocs in the 1st quarter worth approximately $27,000. AdvisorNet Financial Inc grew its position in shares of Amdocs by 382.9% in the first quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock valued at $31,000 after purchasing an additional 268 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of Amdocs during the 1st quarter valued at $31,000. Cullen Frost Bankers Inc. purchased a new stake in Amdocs during the 1st quarter worth about $39,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Amdocs by 55.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company's stock worth $50,000 after purchasing an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 92.02% of the company's stock.

Analyst Upgrades and Downgrades

DOX has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Wolfe Research initiated coverage on Amdocs in a research note on Tuesday, July 8th. They issued an "outperform" rating on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Amdocs currently has a consensus rating of "Buy" and an average target price of $105.33.

Amdocs Stock Up 0.1%

NASDAQ:DOX traded up $0.11 during mid-day trading on Friday, hitting $89.42. 520,370 shares of the company's stock were exchanged, compared to its average volume of 664,526. Amdocs Limited has a one year low of $78.61 and a one year high of $95.41. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.16 and a quick ratio of 1.16. The business has a fifty day moving average price of $91.45 and a 200 day moving average price of $88.42. The company has a market cap of $10.09 billion, a PE ratio of 18.83, a P/E/G ratio of 1.48 and a beta of 0.52.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.07. Amdocs had a net margin of 11.39% and a return on equity of 19.52%. The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the previous year, the company earned $1.56 earnings per share. The business's revenue for the quarter was down 9.4% compared to the same quarter last year. Equities analysts predict that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, June 30th will be given a dividend of $0.527 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.36%. Amdocs's dividend payout ratio is 44.42%.

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.