Fortis Capital Advisors LLC Acquires New Position 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 bought a new stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,842 shares of the technology company's stock, valued at approximately $535,000.

Several other institutional investors also recently made changes to their positions in DOX. Cornerstone Planning Group LLC bought a new position in shares of Amdocs during the first quarter valued at approximately $27,000. AdvisorNet Financial Inc grew its holdings in shares of 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 purchasing an additional 268 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Amdocs during the first quarter valued at approximately $31,000. Quarry LP grew its holdings in shares of Amdocs by 42.2% during the first quarter. Quarry LP now owns 391 shares of the technology company's stock valued at $36,000 after purchasing an additional 116 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Amdocs during the first quarter valued at approximately $39,000. 92.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on DOX shares. Wolfe Research started coverage on Amdocs in a report on Tuesday, July 8th. They set an "outperform" rating for the company. Wall Street Zen raised Amdocs from a "hold" rating to a "buy" rating in a report on Sunday, August 10th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $105.33.

Amdocs Stock Performance

Shares of DOX stock opened at $83.89 on Thursday. Amdocs Limited has a 12-month low of $78.61 and a 12-month high of $95.41. The firm has a market capitalization of $9.47 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 1.56 and a beta of 0.54. The business has a 50 day simple moving average of $87.48 and a 200 day simple moving average of $88.58. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.71 by $0.01. Amdocs had a return on equity of 19.66% and a net margin of 11.94%.The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the company posted $1.62 EPS. The business's revenue for the quarter was down 8.4% compared to the same quarter last year. On average, equities research analysts anticipate 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 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, September 30th. Amdocs's dividend payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.