Amdocs Limited (NASDAQ:DOX) Shares Bought by Moran Wealth Management LLC

Moran Wealth Management LLC boosted its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 946.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,837 shares of the technology company's stock after acquiring an additional 74,019 shares during the period. Moran Wealth Management LLC owned about 0.07% of Amdocs worth $7,488,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pzena Investment Management LLC raised its holdings in shares of Amdocs by 4.3% in the fourth quarter. Pzena Investment Management LLC now owns 6,634,549 shares of the technology company's stock valued at $564,866,000 after buying an additional 270,810 shares during the last quarter. Vanguard Group Inc. grew its position in Amdocs by 16.1% during the fourth quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company's stock worth $261,756,000 after buying an additional 426,035 shares during the period. Wellington Management Group LLP grew its position in Amdocs by 25.4% during the fourth quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company's stock worth $228,211,000 after buying an additional 543,490 shares during the period. Alyeska Investment Group L.P. grew its position in 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 worth $143,127,000 after buying an additional 781,061 shares during the period. Finally, Geode Capital Management LLC grew its position in Amdocs by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,672,193 shares of the technology company's stock worth $143,262,000 after buying an additional 38,460 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th.

Amdocs Trading Down 0.4%

Shares of DOX traded down $0.36 on Friday, hitting $91.01. 1,723,320 shares of the stock traded hands, compared to its average volume of 665,315. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $10.27 billion, a P/E ratio of 19.16, a P/E/G ratio of 1.50 and a beta of 0.52. The stock's 50 day moving average is $90.63 and its two-hundred day moving average is $88.02. Amdocs Limited has a 1 year low of $77.17 and a 1 year high of $95.41.

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

Amdocs Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, June 30th will be given a $0.527 dividend. This represents a $2.11 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Monday, June 30th. Amdocs's 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.