Marks Group Wealth Management Inc Has $8.60 Million Position in Amdocs Limited (NASDAQ:DOX)

Marks Group Wealth Management Inc raised its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,996 shares of the technology company's stock after purchasing an additional 3,164 shares during the quarter. Marks Group Wealth Management Inc owned 0.08% of Amdocs worth $8,601,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC acquired a new position in shares of Amdocs in the first quarter worth $27,000. AdvisorNet Financial Inc increased its stake in shares of Amdocs by 382.9% in the first quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock worth $31,000 after acquiring an additional 268 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Amdocs in the first quarter worth $31,000. Jones Financial Companies Lllp acquired a new position in shares of Amdocs in the fourth quarter worth $36,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Amdocs by 55.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company's stock worth $50,000 after acquiring an additional 208 shares during the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Stock Up 1.3%

NASDAQ:DOX traded up $1.12 during trading hours on Wednesday, reaching $89.17. The company's stock had a trading volume of 630,764 shares, compared to its average volume of 666,282. The company has a market cap of $10.07 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 1.45 and a beta of 0.52. Amdocs Limited has a one year low of $78.61 and a one year high of $95.41. The business's 50-day moving average is $91.56 and its 200-day moving average is $88.37. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.16 and a quick ratio of 1.16.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the prior year, the company posted $1.56 earnings per share. Amdocs's revenue for the quarter was down 9.4% on a year-over-year basis. Equities research analysts predict that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Monday, June 30th. Amdocs's dividend payout ratio (DPR) is 44.42%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Amdocs from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Wolfe Research started coverage on shares of Amdocs in a research note on Tuesday, July 8th. They issued an "outperform" rating on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Amdocs has an average 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.