403,508 Shares in Amdocs Limited $DOX Acquired by Nuveen LLC

Key Points

• Nuveen LLC has acquired 403,508 shares of Amdocs Limited, valued at approximately $36.9 million, representing about 0.36% of the company's stock.
• Amdocs has been rated as a "buy" by five analysts, with a consensus target price of $105.33, following a recent increase in its rating from "hold" to "buy" by Wall Street Zen.
• The company reported earnings per share (EPS) of $1.72 for the last quarter, exceeding estimates, although revenue decreased by 8.4% year-over-year.

Nuveen LLC purchased a new stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 403,508 shares of the technology company's stock, valued at approximately $36,921,000. Nuveen LLC owned 0.36% of Amdocs as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. OneDigital Investment Advisors LLC lifted its stake in shares of Amdocs by 20.8% during the first quarter. OneDigital Investment Advisors LLC now owns 3,026 shares of the technology company's stock valued at $277,000 after acquiring an additional 521 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Amdocs by 17.5% during the 1st quarter. Farther Finance Advisors LLC now owns 988 shares of the technology company's stock valued at $90,000 after purchasing an additional 147 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Amdocs by 7.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,738 shares of the technology company's stock valued at $616,000 after purchasing an additional 490 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Amdocs by 55.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company's stock valued at $50,000 after buying an additional 208 shares during the last quarter. Finally, Ritholtz Wealth Management raised its position in Amdocs by 18.9% in the 1st quarter. Ritholtz Wealth Management now owns 3,195 shares of the technology company's stock valued at $292,000 after buying an additional 507 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company's stock.

Amdocs Stock Performance

Shares of NASDAQ DOX traded up $0.45 during midday trading on Tuesday, hitting $87.45. 955,802 shares of the company's stock were exchanged, compared to its average volume of 718,076. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. Amdocs Limited has a 12 month low of $78.61 and a 12 month high of $95.41. The company's 50 day moving average price is $89.62 and its 200 day moving average price is $88.78. The firm has a market capitalization of $9.87 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 1.60 and a beta of 0.51.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its earnings results on Wednesday, August 6th. The technology company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.71 by $0.01. Amdocs had a return on equity of 19.66% and a net margin of 11.94%.The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the company posted $1.62 EPS. The firm's revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, analysts predict that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, September 30th. Amdocs's payout ratio is currently 42.80%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Wolfe Research assumed coverage on Amdocs in a research report on Tuesday, July 8th. They issued an "outperform" rating on the stock. Wall Street Zen upgraded Amdocs from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Amdocs has a consensus rating of "Buy" and a consensus target price of $105.33.

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.