Ethic Inc. Raises Stock Holdings in Amdocs Limited $DOX

Key Points

• Ethic Inc. increased its holdings in Amdocs Limited by 25.7% during the 1st quarter, now owning 16,016 shares valued at approximately $1.46 million.
• Amdocs recently announced a quarterly dividend of $0.527 per share, representing an annualized dividend of $2.11 and a yield of 2.4%.
• Analysts have upgraded Amdocs from a "hold" to a "buy" rating, with an average price target of $105.33 per share, indicating potential for growth.

Ethic Inc. boosted its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 25.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,016 shares of the technology company's stock after buying an additional 3,277 shares during the period. Ethic Inc.'s holdings in Amdocs were worth $1,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in DOX. Farther Finance Advisors LLC raised its stake in shares of Amdocs by 17.5% in the first quarter. Farther Finance Advisors LLC now owns 988 shares of the technology company's stock worth $90,000 after purchasing an additional 147 shares during the last quarter. Corbyn Investment Management Inc. MD raised its stake in shares of Amdocs by 0.4% in the first quarter. Corbyn Investment Management Inc. MD now owns 38,866 shares of the technology company's stock worth $3,556,000 after purchasing an additional 152 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Amdocs by 3.5% in the first quarter. PNC Financial Services Group Inc. now owns 5,247 shares of the technology company's stock worth $480,000 after purchasing an additional 177 shares during the last quarter. Denali Advisors LLC raised its stake in shares of Amdocs by 3.6% in the first quarter. Denali Advisors LLC now owns 5,810 shares of the technology company's stock worth $532,000 after purchasing an additional 200 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Amdocs by 55.0% in the fourth 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 last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DOX. Wall Street Zen upgraded Amdocs from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Wolfe Research began coverage on Amdocs in a research note on Tuesday, July 8th. They issued an "outperform" rating for the company. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $105.33.

Amdocs Stock Performance

Amdocs stock traded up $1.66 during midday trading on Friday, hitting $88.27. 700,056 shares of the company were exchanged, compared to its average volume of 867,027. The firm has a market capitalization of $9.96 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 1.58 and a beta of 0.51. Amdocs Limited has a fifty-two week low of $78.61 and a fifty-two week high of $95.41. The business has a fifty day simple moving average of $89.14 and a two-hundred day simple moving average of $88.77. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.22.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its 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. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Amdocs had a return on equity of 19.66% and a net margin of 11.94%.Amdocs's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period last year, the company earned $1.62 earnings per share. On average, sell-side analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Announces Dividend

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