Dakota Wealth Management Makes New $458,000 Investment in Amdocs Limited $DOX

Key Points

• Dakota Wealth Management has made a new investment of $458,000 in Amdocs Limited by acquiring 5,016 shares during the second quarter.
• A number of hedge funds have also increased their holdings in Amdocs, with Alyeska Investment Group boosting its stake by 38.6% in the first quarter.
• Amdocs has received a consensus rating of "Buy" from analysts, with a consensus price target of $105.33.

Dakota Wealth Management acquired a new position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,016 shares of the technology company's stock, valued at approximately $458,000.

A number of other hedge funds have also recently bought and sold shares of DOX. Alyeska Investment Group L.P. boosted its holdings in Amdocs by 38.6% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,329,767 shares of the technology company's stock worth $213,174,000 after acquiring an additional 648,693 shares during the last quarter. American Century Companies Inc. boosted its holdings in Amdocs by 23.5% during the 1st quarter. American Century Companies Inc. now owns 2,242,829 shares of the technology company's stock worth $205,219,000 after acquiring an additional 426,911 shares during the last quarter. Nuveen LLC purchased a new position in Amdocs during the 1st quarter worth $36,921,000. LSV Asset Management boosted its holdings in Amdocs by 11.1% during the 1st quarter. LSV Asset Management now owns 3,180,501 shares of the technology company's stock worth $291,016,000 after acquiring an additional 317,412 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Amdocs by 43.0% during the 1st quarter. AQR Capital Management LLC now owns 955,158 shares of the technology company's stock worth $86,719,000 after acquiring an additional 287,243 shares during the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DOX. Wall Street Zen raised 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 issued an "outperform" rating on the stock. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $105.33.

Amdocs Price Performance

NASDAQ DOX opened at $81.63 on Monday. The company has a market cap of $9.22 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 1.49 and a beta of 0.54. Amdocs Limited has a 52 week low of $78.61 and a 52 week high of $95.41. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. The firm's 50-day simple moving average is $85.90 and its two-hundred day simple moving average is $88.22.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.71 by $0.01. The business 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 firm earned $1.62 earnings per share. Research analysts predict that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.527 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.11 annualized dividend and a yield of 2.6%. Amdocs's dividend payout ratio is 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.

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