Envestnet Asset Management Inc. Boosts Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Envestnet Asset Management Inc. raised its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 2.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 521,669 shares of the technology company's stock after purchasing an additional 10,645 shares during the period. Envestnet Asset Management Inc. owned 0.46% of Amdocs worth $47,733,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in DOX. AdvisorNet Financial Inc increased its position in Amdocs by 382.9% during the first quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock valued at $31,000 after acquiring an additional 268 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Amdocs during the 1st quarter valued at about $31,000. Jones Financial Companies Lllp bought a new position in shares of Amdocs in the 4th quarter worth approximately $36,000. Tower Research Capital LLC TRC lifted its stake in shares of Amdocs by 55.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company's stock worth $50,000 after purchasing an additional 208 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Amdocs by 127.9% in the fourth quarter. Farther Finance Advisors LLC now owns 841 shares of the technology company's stock worth $72,000 after buying an additional 472 shares during the last quarter. 92.02% of the stock is owned by institutional investors.

Amdocs Price Performance

NASDAQ:DOX traded up $1.12 during trading hours on Wednesday, hitting $89.17. 630,764 shares of the stock traded hands, compared to its average volume of 699,925. The company has a market cap of $10.07 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. Amdocs Limited has a 1 year low of $78.61 and a 1 year high of $95.41. The stock has a 50 day moving average price of $91.56 and a 200 day moving average price of $88.36. 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 announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $1.12 billion. Amdocs had a net margin of 11.39% and a return on equity of 19.52%. The company's revenue was down 9.4% on a year-over-year basis. During the same period last year, the firm earned $1.56 EPS. Sell-side analysts forecast that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, June 30th will be paid a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a yield of 2.36%. The ex-dividend date is Monday, June 30th. Amdocs's dividend payout ratio (DPR) is presently 44.42%.

Analyst Ratings Changes

Several research analysts have weighed in on DOX shares. Wolfe Research began coverage on shares of Amdocs in a research report on Tuesday, July 8th. They issued an "outperform" rating on the stock. Wall Street Zen raised Amdocs from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Amdocs presently has a consensus rating of "Buy" and an average target price of $105.33.

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.