Foster & Motley Inc. Grows Stake in Amdocs Limited $DOX

Key Points

• Foster & Motley Inc. increased its stake in Amdocs Limited by 21.0% during the second quarter, bringing its total holdings to 45,764 shares worth approximately $4.18 million.
• Amdocs is receiving positive attention from analysts, with ratings moving from "hold" to "buy" as it currently has an average price target of $108.00.
• The company announced a quarterly dividend of $0.527 per share, representing a 2.5% dividend yield and a payout ratio of 42.60%.

Foster & Motley Inc. lifted its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 21.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,764 shares of the technology company's stock after purchasing an additional 7,934 shares during the period. Foster & Motley Inc.'s holdings in Amdocs were worth $4,176,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Nordea Investment Management AB increased its stake in shares of Amdocs by 18.0% during the second quarter. Nordea Investment Management AB now owns 1,879,023 shares of the technology company's stock worth $170,803,000 after purchasing an additional 287,235 shares in the last quarter. Allianz Asset Management GmbH boosted its position in Amdocs by 13.0% during the second quarter. Allianz Asset Management GmbH now owns 501,809 shares of the technology company's stock worth $45,785,000 after acquiring an additional 57,705 shares during the last quarter. Mutual Advisors LLC boosted its position in Amdocs by 3.2% during the second quarter. Mutual Advisors LLC now owns 4,516 shares of the technology company's stock worth $397,000 after acquiring an additional 138 shares during the last quarter. Ritholtz Wealth Management boosted its position in Amdocs by 445.4% during the second quarter. Ritholtz Wealth Management now owns 17,425 shares of the technology company's stock worth $1,590,000 after acquiring an additional 14,230 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new position in Amdocs during the second quarter worth about $80,000. Hedge funds and other institutional investors own 92.02% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Amdocs in a research report on Tuesday, July 8th. They set an "outperform" rating on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of Amdocs in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a research report on Saturday, October 11th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $108.00.

Amdocs Stock Performance

Shares of DOX stock opened at $82.94 on Friday. The firm's 50 day moving average price is $84.41 and its 200-day moving average price is $87.43. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22. Amdocs Limited has a one year low of $78.61 and a one year high of $95.41. The firm has a market cap of $9.36 billion, a P/E ratio of 16.82, a P/E/G ratio of 1.37 and a beta of 0.51.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.71 by $0.01. Amdocs had a net margin of 11.94% and a return on equity of 19.66%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the business posted $1.62 EPS. The business's revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, equities research analysts predict that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a $0.527 dividend. This represents a $2.11 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 30th. Amdocs's dividend payout ratio is currently 42.60%.

About Amdocs

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.

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