Belpointe Asset Management LLC Takes $982,000 Position in Amdocs Limited $DOX

Key Points

• Belpointe Asset Management LLC has invested approximately $982,000 in Amdocs Limited, acquiring 10,737 shares during the first quarter of the year.
• Amdocs has received positive ratings from multiple analysts, with a consensus rating of "Buy" and a target price of $105.33.
• The company announced a quarterly dividend of $0.527, which represents a 2.5% dividend yield for stockholders of record as of September 30th.

Belpointe Asset Management LLC acquired a new position in Amdocs Limited (NASDAQ:DOX - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,737 shares of the technology company's stock, valued at approximately $982,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers boosted its stake in shares of Amdocs by 6.0% during the 4th quarter. Cetera Investment Advisers now owns 52,568 shares of the technology company's stock valued at $4,476,000 after buying an additional 2,961 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of Amdocs during the 4th quarter valued at $1,646,000. Lazard Asset Management LLC boosted its stake in shares of Amdocs by 30.9% during the 4th quarter. Lazard Asset Management LLC now owns 12,812 shares of the technology company's stock valued at $1,090,000 after buying an additional 3,023 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Amdocs by 11.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,076 shares of the technology company's stock valued at $4,689,000 after purchasing an additional 5,713 shares in the last quarter. Finally, Occudo Quantitative Strategies LP bought a new position in shares of Amdocs during the 4th quarter valued at $394,000. Institutional investors and hedge funds own 92.02% of the company's stock.

Wall Street Analysts Forecast Growth

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

Amdocs Price Performance

Shares of DOX stock traded up $0.30 during trading hours on Wednesday, reaching $84.28. 136,635 shares of the company were exchanged, compared to its average volume of 726,285. 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 company has a market cap of $9.51 billion, a price-to-earnings ratio of 17.11, a P/E/G ratio of 1.54 and a beta of 0.54. The stock's fifty day moving average is $86.85 and its two-hundred day moving average is $88.49. Amdocs Limited has a fifty-two week low of $78.61 and a fifty-two week high of $95.41.

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 for the quarter, topping analysts' consensus estimates of $1.71 by $0.01. Amdocs had a net margin of 11.94% and a return on equity of 19.66%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm posted $1.62 earnings per share. Amdocs's revenue for the quarter was down 8.4% compared to the same quarter last year. Sell-side analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.527 dividend. This represents a $2.11 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Amdocs's dividend payout ratio is presently 42.80%.

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.