Bahl & Gaynor Inc. Buys 160,424 Shares of Amdocs Limited $DOX

Key Points

• Bahl & Gaynor Inc. has increased its stake in Amdocs Limited (NASDAQ:DOX) by 37.2%, now owning 592,097 shares worth approximately $54.2 million.
• Amdocs reported a net margin of 11.94% and a return on equity of 19.66% in its most recent quarterly earnings, with a revenue of $1.14 billion.
• The company will pay a quarterly dividend of $0.527 on October 31st, translating to an annual yield of 2.4%.

Bahl & Gaynor Inc. grew its position in Amdocs Limited (NASDAQ:DOX - Free Report) by 37.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 592,097 shares of the technology company's stock after buying an additional 160,424 shares during the period. Bahl & Gaynor Inc. owned approximately 0.52% of Amdocs worth $54,177,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DOX. NewEdge Advisors LLC lifted its position in Amdocs by 189.2% in the 4th quarter. NewEdge Advisors LLC now owns 14,689 shares of the technology company's stock valued at $1,251,000 after acquiring an additional 9,610 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of 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 during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Amdocs by 8.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 136,979 shares of the technology company's stock worth $11,663,000 after purchasing an additional 10,797 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Amdocs by 4.4% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 47,433 shares of the technology company's stock worth $4,038,000 after purchasing an additional 1,979 shares during the last quarter. Finally, Hancock Whitney Corp increased its stake in shares of Amdocs by 1.2% during the 4th quarter. Hancock Whitney Corp now owns 24,764 shares of the technology company's stock worth $2,108,000 after purchasing an additional 284 shares during the last quarter. 92.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Amdocs Price Performance

Amdocs stock traded up $0.59 during mid-day trading on Wednesday, reaching $87.13. 1,088,223 shares of the company were exchanged, compared to its average volume of 719,533. The company has a fifty day simple moving average of $88.89 and a 200-day simple moving average of $88.78. Amdocs Limited has a 12 month low of $78.61 and a 12 month high of $95.41. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market cap of $9.84 billion, a PE ratio of 17.67, a PEG ratio of 1.60 and a beta of 0.51.

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

Amdocs Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Amdocs's dividend payout ratio (DPR) is currently 42.60%.

About Amdocs

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.