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11,740 Shares in Amdocs Limited (NASDAQ:DOX) Purchased by CCM Investment Group LLC

Amdocs logo with Computer and Technology background

Key Points

  • CCM Investment Group LLC purchased a new stake in Amdocs Limited, acquiring 11,740 shares valued at approximately $1,062,000 in the first quarter.
  • Amdocs has received positive ratings from analysts, with a consensus target price of $105.33 and multiple firms upgrading the stock to a "buy" rating.
  • The company recently announced a quarterly dividend of $0.527 per share, representing an annualized yield of 2.4% with a payout ratio of 42.80%.
  • Need better tools to track Amdocs? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

CCM Investment Group LLC acquired a new position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,740 shares of the technology company's stock, valued at approximately $1,062,000.

Other hedge funds have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC acquired a new stake in Amdocs during the 1st quarter worth $27,000. AdvisorNet Financial Inc raised its stake in shares of Amdocs by 382.9% in the 1st quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock valued at $31,000 after purchasing an additional 268 shares during the period. NBC Securities Inc. acquired a new stake in shares of Amdocs in the 1st quarter valued at about $31,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Amdocs in the 1st quarter valued at about $39,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Amdocs by 55.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company's stock valued at $50,000 after purchasing an additional 208 shares during the period. Institutional investors and hedge funds own 92.02% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wall Street Zen raised Amdocs from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Wolfe Research assumed coverage on Amdocs in a research note on Tuesday, July 8th. They issued an "outperform" rating on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $105.33.

Check Out Our Latest Stock Analysis on DOX

Amdocs Stock Up 0.4%

Shares of NASDAQ DOX traded up $0.39 during mid-day trading on Friday, hitting $87.74. The company had a trading volume of 227,340 shares, compared to its average volume of 711,514. The company has a market capitalization of $9.90 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 1.62 and a beta of 0.51. The firm has a 50-day simple moving average of $89.82 and a two-hundred day simple moving average of $88.76. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Amdocs Limited has a one year low of $78.61 and a one year high of $95.41.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.01. The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.13 billion. Amdocs had a return on equity of 19.66% and a net margin of 11.94%. Amdocs's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.62 EPS. On average, equities analysts expect that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a $0.527 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.11 annualized dividend and a dividend yield of 2.4%. Amdocs's dividend payout ratio (DPR) is presently 42.80%.

About Amdocs

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Amdocs (NASDAQ:DOX)

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