Cetera Investment Advisers Raises Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Key Points

• Cetera Investment Advisers increased its stake in Amdocs Limited by 17.3%, owning a total of 61,640 shares valued at approximately $5.64 million.
• Amdocs reported $1.78 EPS for the last quarter, exceeding expectations, with revenue of $1.13 billion, although revenue was down 9.4% year-over-year.
• The company recently declared a quarterly dividend of $0.527, resulting in an annualized dividend yield of 2.5% and a payout ratio of 44.42%.

Cetera Investment Advisers lifted its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 17.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,640 shares of the technology company's stock after purchasing an additional 9,072 shares during the quarter. Cetera Investment Advisers owned about 0.05% of Amdocs worth $5,640,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. OneDigital Investment Advisors LLC increased its position in Amdocs by 20.8% during the first quarter. OneDigital Investment Advisors LLC now owns 3,026 shares of the technology company's stock valued at $277,000 after acquiring an additional 521 shares during the last quarter. Farther Finance Advisors LLC increased its position in Amdocs by 17.5% during the first quarter. Farther Finance Advisors LLC now owns 988 shares of the technology company's stock valued at $90,000 after acquiring an additional 147 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Amdocs by 7.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,738 shares of the technology company's stock valued at $616,000 after acquiring an additional 490 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Amdocs by 55.0% during the fourth 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. Finally, Vanguard Group Inc. increased its position in Amdocs by 16.1% in 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 in the last quarter. 92.02% of the stock is currently owned by institutional investors.

Amdocs Price Performance

Amdocs stock traded up $1.19 during midday trading on Monday, reaching $85.68. 988,921 shares of the stock traded hands, compared to its average volume of 698,983. The stock's fifty day moving average is $90.67 and its 200-day moving average is $88.71. Amdocs Limited has a 12 month low of $78.61 and a 12 month high of $95.41. The stock has a market cap of $9.67 billion, a P/E ratio of 18.04, a PEG ratio of 1.40 and a beta of 0.51. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX - Get Free Report) last posted 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 during the quarter, compared to analyst estimates of $1.12 billion. Amdocs had a return on equity of 19.52% and a net margin of 11.39%. The company's revenue for the quarter was down 9.4% on a year-over-year basis. During the same period last year, the company earned $1.56 EPS. As a group, equities research analysts anticipate that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, June 30th were issued a $0.527 dividend. This represents a $2.11 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, June 30th. Amdocs's dividend payout ratio is presently 44.42%.

Analysts Set New Price Targets

Several research firms recently issued reports on DOX. Wolfe Research began coverage on shares of Amdocs in a report on Tuesday, July 8th. They issued an "outperform" rating for the company. Wall Street Zen lowered shares of Amdocs from a "buy" rating to a "hold" rating in a report on Saturday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Amdocs has a consensus rating of "Moderate Buy" and a consensus target price of $105.33.

Amdocs Company 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.