Clal Insurance Enterprises Holdings Ltd Takes Position in Amdocs Limited (NASDAQ:DOX)

Key Points

• Clal Insurance Enterprises Holdings Ltd acquired 60,000 shares of Amdocs Limited, valued at approximately $5.49 million, increasing its ownership to about 0.05% of the company.
• Amdocs reported a net margin of 11.94% and earnings per share of $1.72 for the latest quarter, surpassing analysts' estimates, but showed a revenue decline of 8.4% year-over-year.
• The company declared a quarterly dividend of $0.527, offering a yield of 2.4%, with the dividend to be paid on October 31st.

Clal Insurance Enterprises Holdings Ltd acquired a new position in Amdocs Limited (NASDAQ:DOX - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 60,000 shares of the technology company's stock, valued at approximately $5,490,000. Clal Insurance Enterprises Holdings Ltd owned 0.05% of Amdocs as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its position in Amdocs by 2.2% in the 4th quarter. Wells Fargo & Company MN now owns 205,265 shares of the technology company's stock worth $17,476,000 after buying an additional 4,326 shares in the last quarter. Cerity Partners LLC raised its holdings in Amdocs by 40.4% in the 4th quarter. Cerity Partners LLC now owns 10,742 shares of the technology company's stock worth $923,000 after acquiring an additional 3,090 shares during the period. Renaissance Technologies LLC grew its holdings in Amdocs by 97.6% in the 4th quarter. Renaissance Technologies LLC now owns 134,400 shares of the technology company's stock valued at $11,443,000 after buying an additional 66,400 shares during the last quarter. Scotia Capital Inc. increased its position in Amdocs by 22.7% during the fourth quarter. Scotia Capital Inc. now owns 3,942 shares of the technology company's stock worth $336,000 after acquiring an additional 729 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in Amdocs by 52.7% in the 4th quarter. Sterling Capital Management LLC now owns 6,670 shares of the technology company's stock valued at $568,000 after purchasing an additional 2,302 shares during the period. Institutional investors and hedge funds own 92.02% of the company's stock.

Wall Street Analysts Forecast Growth

DOX has been the subject of a number of research reports. Wolfe Research began coverage on Amdocs in a research report on Tuesday, July 8th. They issued an "outperform" rating for the company. Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a research report on Sunday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $105.33.

Amdocs Trading Down 1.4%

NASDAQ:DOX traded down $1.25 during trading hours on Thursday, hitting $87.35. The stock had a trading volume of 675,987 shares, compared to its average volume of 714,698. 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 0.23, a quick ratio of 1.16 and a current ratio of 1.22. The company has a market cap of $9.86 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 1.59 and a beta of 0.51. The business's 50 day moving average is $89.82 and its 200-day moving average is $88.76.

Amdocs (NASDAQ:DOX - Get Free Report) last released its earnings results on Wednesday, August 6th. The technology company reported $1.72 EPS for the quarter, beating 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 firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the previous year, the business posted $1.62 EPS. The business's quarterly revenue was down 8.4% compared to the same quarter last year. Sell-side analysts anticipate that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a $0.527 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.11 annualized dividend and a dividend yield of 2.4%. Amdocs's dividend payout ratio is presently 42.60%.

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.