Mackenzie Financial Corp Grows Holdings in Amdocs Limited (NASDAQ:DOX)

Key Points

• Mackenzie Financial Corp increased its stake in Amdocs Limited by 8.9%, acquiring an additional 8,565 shares for a total ownership of 104,503 shares, valued at approximately $9.56 million.
• Amdocs recently reported a quarterly earnings of $1.78 per share, exceeding the consensus estimate by $0.07, despite a 9.4% decline in revenue compared to the previous year.
• The company has announced a $0.527 quarterly dividend, translating to an annualized yield of 2.5% and a payout ratio of 44.21%.

Mackenzie Financial Corp grew its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 8.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,503 shares of the technology company's stock after acquiring an additional 8,565 shares during the period. Mackenzie Financial Corp owned about 0.09% of Amdocs worth $9,562,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Alyeska Investment Group L.P. raised its holdings in shares of Amdocs by 86.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company's stock valued at $143,127,000 after buying an additional 781,061 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Amdocs by 25.4% during the fourth quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company's stock valued at $228,211,000 after buying an additional 543,490 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Amdocs by 16.1% during the fourth quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company's stock valued at $261,756,000 after buying an additional 426,035 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Amdocs by 2,489.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 376,383 shares of the technology company's stock valued at $32,045,000 after buying an additional 361,845 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Amdocs by 32.8% during the fourth quarter. Russell Investments Group Ltd. now owns 979,861 shares of the technology company's stock valued at $83,426,000 after buying an additional 242,093 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DOX has been the topic of several recent research reports. Wall Street Zen lowered shares of Amdocs from a "buy" rating to a "hold" rating in a research report on Saturday. Wolfe Research initiated coverage on shares of Amdocs in a research report on Tuesday, July 8th. They issued an "outperform" rating on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.33.

Amdocs Stock Down 1.0%

Shares of NASDAQ DOX traded down $0.87 during mid-day trading on Friday, reaching $84.49. 1,027,433 shares of the company's stock were exchanged, compared to its average volume of 664,733. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.40 and a beta of 0.51. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $90.67 and a 200 day simple moving average of $88.68. Amdocs Limited has a twelve month low of $78.61 and a twelve month high of $95.41.

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

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, June 30th were paid a dividend of $0.527 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.11 annualized dividend and a yield of 2.5%. Amdocs's dividend payout ratio is currently 44.42%.

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.