Envestnet Portfolio Solutions Inc. Buys 3,512 Shares of Amdocs Limited (NASDAQ:DOX)

Envestnet Portfolio Solutions Inc. boosted its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 10.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,469 shares of the technology company's stock after buying an additional 3,512 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Amdocs were worth $3,428,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DOX. AdvisorNet Financial Inc increased its position in shares of Amdocs by 382.9% during 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 period. NBC Securities Inc. bought a new stake in Amdocs during the first quarter valued at $31,000. Jones Financial Companies Lllp bought a new stake in Amdocs during the fourth quarter valued at $36,000. SBI Securities Co. Ltd. acquired a new stake in Amdocs during the 4th quarter worth about $41,000. Finally, Global Retirement Partners LLC raised its position in shares of Amdocs by 45.6% in the 4th quarter. Global Retirement Partners LLC now owns 559 shares of the technology company's stock worth $48,000 after acquiring an additional 175 shares in the last quarter. Institutional investors own 92.02% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Amdocs from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th.

Amdocs Trading Down 2.1%

Shares of NASDAQ:DOX traded down $1.96 during mid-day trading on Wednesday, hitting $90.66. The company had a trading volume of 1,108,387 shares, compared to its average volume of 666,522. 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 one year low of $77.17 and a one year high of $95.41. The firm has a fifty day moving average price of $90.17 and a 200 day moving average price of $87.93. The company has a market capitalization of $10.23 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 1.53 and a beta of 0.52.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.71 by $0.07. Amdocs had a net margin of 11.39% and a return on equity of 19.52%. The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same period last year, the company posted $1.56 earnings per share. The business's quarterly revenue was down 9.4% on a year-over-year basis. As a group, research analysts forecast that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, June 30th will be issued a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, June 30th. Amdocs's dividend payout ratio is currently 44.42%.

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.