Connor Clark & Lunn Investment Management Ltd. Has $13.46 Million Stock Position in Amdocs Limited (NASDAQ:DOX)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in Amdocs Limited by 16.1%, owning 147,100 shares worth approximately $13.46 million as of the latest reporting period.
• Amdocs received a buy rating from Wall Street Zen and has a consensus rating of "Buy" with an average price target of $105.33.
• The company announced a quarterly dividend of $0.527 per share to be paid on October 31, representing a 2.4% yield.

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 16.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 147,100 shares of the technology company's stock after purchasing an additional 20,352 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.13% of Amdocs worth $13,460,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Townsquare Capital LLC raised its stake in Amdocs by 25.8% during the first quarter. Townsquare Capital LLC now owns 7,617 shares of the technology company's stock worth $697,000 after purchasing an additional 1,561 shares during the period. Morton Community Bank increased its position in shares of Amdocs by 3.6% in the first quarter. Morton Community Bank now owns 39,210 shares of the technology company's stock worth $3,588,000 after acquiring an additional 1,355 shares in the last quarter. Citigroup Inc. increased its position in shares of Amdocs by 138.8% in the first quarter. Citigroup Inc. now owns 96,437 shares of the technology company's stock worth $8,824,000 after acquiring an additional 56,056 shares in the last quarter. Ironwood Investment Counsel LLC increased its position in shares of Amdocs by 11.6% in the first quarter. Ironwood Investment Counsel LLC now owns 10,447 shares of the technology company's stock worth $956,000 after acquiring an additional 1,090 shares in the last quarter. Finally, Headlands Technologies LLC increased its position in shares of Amdocs by 53.6% in the first quarter. Headlands Technologies LLC now owns 27,008 shares of the technology company's stock worth $2,471,000 after acquiring an additional 9,424 shares in the last quarter. Hedge funds and other institutional investors own 92.02% of the company's stock.

Wall Street Analysts Forecast Growth

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

Amdocs Price Performance

Shares of NASDAQ:DOX traded up $0.34 on Friday, hitting $87.69. The stock had a trading volume of 214,795 shares, compared to its average volume of 711,438. The firm's 50 day moving average price is $89.82 and its 200-day moving average price is $88.76. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 1.62 and a beta of 0.51. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.22. Amdocs Limited has a twelve month low of $78.61 and a twelve month high of $95.41.

Amdocs (NASDAQ:DOX - Get Free Report) last released its earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.71 by $0.01. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Amdocs had a net margin of 11.94% and a return on equity of 19.66%. The company's revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.62 EPS. On average, equities research analysts predict that Amdocs Limited will post 6.21 earnings per share 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. This represents a $2.11 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Amdocs's dividend payout ratio is presently 42.80%.

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.