Amdocs Limited $DOX Shares Purchased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in Amdocs Limited by 9.4%, owning 2,120,075 shares valued at approximately $194 million as of the latest filing.
• Amdocs has received strong ratings from analysts, with five giving it a buy rating and a consensus price target of $105.33.
• The company recently announced a quarterly dividend of $0.527, with a projected annual yield of 2.4% and a dividend payout ratio of 42.80%.

Dimensional Fund Advisors LP lifted its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,120,075 shares of the technology company's stock after purchasing an additional 182,489 shares during the quarter. Dimensional Fund Advisors LP owned about 1.88% of Amdocs worth $193,978,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DOX. Alyeska Investment Group L.P. increased its holdings in shares of Amdocs by 86.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company's stock valued at $143,127,000 after purchasing an additional 781,061 shares during the last quarter. Nuveen LLC acquired a new stake in Amdocs during the first quarter worth $36,921,000. The Manufacturers Life Insurance Company increased its stake in Amdocs by 2,489.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 376,383 shares of the technology company's stock worth $32,045,000 after acquiring an additional 361,845 shares during the last quarter. LSV Asset Management increased its stake in Amdocs by 11.1% during the first 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, Invesco Ltd. increased its stake in Amdocs by 49.3% during the first quarter. Invesco Ltd. now owns 595,941 shares of the technology company's stock worth $54,529,000 after acquiring an additional 196,676 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company's stock.

Analyst Ratings Changes

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

Amdocs Trading Up 1.9%

Shares of DOX traded up $1.66 during midday trading on Friday, hitting $88.27. 700,056 shares of the stock were exchanged, compared to its average volume of 884,137. Amdocs Limited has a 52-week low of $78.61 and a 52-week high of $95.41. The stock has a fifty day simple moving average of $89.14 and a 200 day simple moving average of $88.79. The firm has a market cap of $9.96 billion, a P/E ratio of 17.90, a P/E/G ratio of 1.61 and a beta of 0.51. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The technology company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.71 by $0.01. Amdocs had a return on equity of 19.66% and a net margin of 11.94%.The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the business posted $1.62 earnings per share. The company's quarterly revenue was down 8.4% on a year-over-year basis. On average, research analysts anticipate that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Announces Dividend

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