Envestnet Asset Management Inc. Acquires 10,645 Shares of Amdocs Limited (NASDAQ:DOX)

Envestnet Asset Management Inc. increased its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 521,669 shares of the technology company's stock after acquiring an additional 10,645 shares during the quarter. Envestnet Asset Management Inc. owned about 0.46% of Amdocs worth $47,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. AdvisorNet Financial Inc raised its holdings in Amdocs by 382.9% in the first quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock worth $31,000 after buying an additional 268 shares during the last quarter. NBC Securities Inc. bought a new position in Amdocs in the 1st quarter valued at approximately $31,000. Jones Financial Companies Lllp bought a new position in Amdocs in the 4th quarter valued at approximately $36,000. Tower Research Capital LLC TRC boosted its stake in Amdocs by 55.0% during 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 last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Amdocs by 127.9% in the 4th quarter. Farther Finance Advisors LLC now owns 841 shares of the technology company's stock worth $72,000 after purchasing an additional 472 shares in the last quarter. Institutional investors own 92.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on DOX shares. Wolfe Research assumed coverage on Amdocs in a report on Tuesday, July 8th. They issued an "outperform" rating for the company. Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $105.33.

Amdocs Stock Performance

Shares of DOX traded up $0.47 during trading hours on Monday, hitting $88.73. The stock had a trading volume of 876,403 shares, compared to its average volume of 698,379. The firm has a market capitalization of $10.02 billion, a PE ratio of 18.68, a PEG ratio of 1.46 and a beta of 0.52. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.16 and a quick ratio of 1.16. Amdocs Limited has a 12 month low of $78.61 and a 12 month high of $95.41. The stock has a fifty day moving average price of $91.63 and a 200 day moving average price of $88.34.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.71 by $0.07. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Amdocs had a net margin of 11.39% and a return on equity of 19.52%. The business's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.56 EPS. Analysts anticipate that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, June 30th will be given a dividend of $0.527 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.11 annualized dividend and a yield of 2.38%. Amdocs's dividend payout ratio (DPR) is presently 44.21%.

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.