38,980 Shares in Amdocs Limited $DOX Purchased by Steel Grove Capital Advisors LLC

Key Points

• Steel Grove Capital Advisors acquired 38,980 Amdocs shares in the third quarter, valued at approximately $2.23 million. Institutional investors and hedge funds collectively own 92.02% of the company.
• Analyst sentiment remains mixed: Amdocs received three Buy, two Hold, and two Sell ratings, resulting in an average “Hold” rating and an average price target of $86.67.
• Amdocs shares rose 0.9% to $59.27, while the company reported quarterly EPS in line with estimates at $1.84 and declared a quarterly dividend of $0.569 per share, yielding about 3.8% annually.

Steel Grove Capital Advisors LLC acquired a new stake in Amdocs Limited (NASDAQ:DOX - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 38,980 shares of the technology company's stock, valued at approximately $2,229,000.

Several other hedge funds have also added to or reduced their stakes in the business. MidFirst Bank bought a new stake in Amdocs during the 4th quarter worth approximately $54,000. Versant Capital Management Inc raised its stake in shares of Amdocs by 3,340.6% during the third quarter. Versant Capital Management Inc now owns 1,101 shares of the technology company's stock valued at $63,000 after acquiring an additional 1,069 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Amdocs by 16.4% during the third quarter. Farther Finance Advisors LLC now owns 1,292 shares of the technology company's stock valued at $74,000 after acquiring an additional 182 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Amdocs by 65.7% during the second quarter. GAMMA Investing LLC now owns 1,725 shares of the technology company's stock valued at $87,000 after acquiring an additional 684 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in shares of Amdocs during the second quarter worth $92,000. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DOX. Weiss Ratings cut shares of Amdocs from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday. KeyCorp started coverage on Amdocs in a research report on Monday, June 29th. They set a "sector weight" rating for the company. Finally, Wall Street Zen raised Amdocs from a "hold" rating to a "buy" rating in a research report on Saturday, August 29th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $86.67.

Amdocs Trading Up 0.9%

DOX stock traded up $0.52 during trading on Tuesday, hitting $59.27. The company had a trading volume of 153,424 shares, compared to its average volume of 1,239,186. The business has a 50-day moving average of $59.76 and a 200-day moving average of $59.39. Amdocs Limited has a one year low of $49.74 and a one year high of $85.63. The stock has a market cap of $6.40 billion, a PE ratio of 14.11, a PEG ratio of 0.94 and a beta of 0.44. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23.

Amdocs (NASDAQ:DOX - Get Free Report) last released its earnings results on Thursday, August 6th. The technology company reported $1.84 earnings per share for the quarter, meeting analysts' consensus estimates of $1.84. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. Amdocs had a net margin of 9.75% and a return on equity of 20.28%. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.72 EPS. Research analysts predict that Amdocs Limited will post 6.56 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.5690 per share. The ex-dividend date is Wednesday, September 30th. This represents a $2.28 annualized dividend and a dividend yield of 3.8%. Amdocs's dividend payout ratio is 54.05%.

Amdocs Profile

Amdocs Limited NASDAQ: DOX is a global provider of software and services for communications, media and entertainment companies. Its offerings help service providers manage customer relationships, billing, product catalogs, ordering, network operations and digital experiences across consumer and enterprise markets.

The company provides business support systems and operational support systems, along with cloud-based platforms, artificial intelligence and data solutions, cybersecurity, network services and managed services.

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