Amdocs Limited (NASDAQ:DOX) Shares Purchased by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc raised its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 93,996 shares of the technology company's stock after buying an additional 3,164 shares during the quarter. Marks Group Wealth Management Inc owned about 0.08% of Amdocs worth $8,601,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Alyeska Investment Group L.P. raised its stake in Amdocs by 86.8% in 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 increased 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 acquiring an additional 543,490 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Amdocs by 16.1% in the 4th quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company's stock valued at $261,756,000 after purchasing an additional 426,035 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Amdocs by 2,489.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 376,383 shares of the technology company's stock valued at $32,045,000 after purchasing an additional 361,845 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Amdocs by 32.8% in the 4th quarter. Russell Investments Group Ltd. now owns 979,861 shares of the technology company's stock worth $83,426,000 after purchasing an additional 242,093 shares in the last quarter. 92.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DOX has been the topic of a number of recent analyst reports. Wolfe Research began coverage on shares of Amdocs in a research note on Tuesday, July 8th. They set an "outperform" rating on the stock. Wall Street Zen raised Amdocs from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $105.33.

Amdocs Stock Performance

NASDAQ DOX traded down $0.98 during trading hours on Friday, reaching $88.26. The stock had a trading volume of 965,017 shares, compared to its average volume of 664,172. Amdocs Limited has a 52-week low of $78.61 and a 52-week high of $95.41. The stock has a fifty day moving average of $91.63 and a 200 day moving average of $88.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market cap of $9.96 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 1.46 and a beta of 0.52.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The technology company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.71 by $0.07. Amdocs had a net margin of 11.39% and a return on equity of 19.52%. The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the previous year, the business posted $1.56 EPS. The business's quarterly revenue was down 9.4% compared to the same quarter last year. Sell-side analysts predict that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, June 30th will be paid a $0.527 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.39%. Amdocs's payout ratio is 44.42%.

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.