Fortis Capital Advisors LLC Purchases New Holdings in Amdocs Limited $DOX

Key Points

• Fortis Capital Advisors LLC has acquired a new stake in Amdocs Limited, purchasing 5,842 shares valued at approximately $535,000 in the first quarter.
• Amdocs has received positive analyst ratings, with Wolfe Research starting coverage with an "outperform" rating and a consensus target price of $105.33, indicating strong investor sentiment.
• The company reported a quarterly earnings per share (EPS) of $1.72, exceeding expectations, while also announcing a quarterly dividend of $0.527 per share, resulting in a 2.5% yield.

Fortis Capital Advisors LLC purchased a new stake in Amdocs Limited (NASDAQ:DOX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,842 shares of the technology company's stock, valued at approximately $535,000.

A number of other institutional investors have also recently modified their holdings of DOX. Alyeska Investment Group L.P. boosted its stake in shares of Amdocs by 38.6% in the first quarter. Alyeska Investment Group L.P. now owns 2,329,767 shares of the technology company's stock valued at $213,174,000 after buying an additional 648,693 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Amdocs by 23.5% in the first quarter. American Century Companies Inc. now owns 2,242,829 shares of the technology company's stock worth $205,219,000 after acquiring an additional 426,911 shares during the last quarter. Nuveen LLC acquired a new position in shares of Amdocs in the first quarter worth $36,921,000. LSV Asset Management raised its holdings in shares of Amdocs by 11.1% in 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, AQR Capital Management LLC raised its holdings in shares of Amdocs by 43.0% in the first quarter. AQR Capital Management LLC now owns 955,158 shares of the technology company's stock worth $86,719,000 after acquiring an additional 287,243 shares during the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Stock Performance

DOX traded down $0.15 during trading hours on Tuesday, hitting $84.03. The company's stock had a trading volume of 211,592 shares, compared to its average volume of 727,423. Amdocs Limited has a fifty-two week low of $78.61 and a fifty-two week high of $95.41. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $9.49 billion, a PE ratio of 17.06, a PEG ratio of 1.55 and a beta of 0.54. The company has a 50-day simple moving average of $87.03 and a 200 day simple moving average of $88.52.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same period last year, the firm earned $1.62 EPS. The firm's revenue for the quarter was down 8.4% on a year-over-year basis. As a group, sell-side analysts expect 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, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.527 dividend. This represents a $2.11 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Amdocs's dividend payout ratio is presently 42.80%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DOX. Wolfe Research began coverage on Amdocs in a report on Tuesday, July 8th. They issued an "outperform" rating for the company. Wall Street Zen upgraded Amdocs from a "hold" rating to a "buy" rating in a research report on Sunday, August 10th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus 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.