Foster & Motley Inc. Raises Stock Position in Amdocs Limited (NASDAQ:DOX)

Key Points

• Foster & Motley Inc. increased its holdings in Amdocs Limited by 21.5% during Q1, now owning 37,830 shares worth approximately $3.46 million.
• Amdocs reported an earnings per share (EPS) of $1.78 for the last quarter, surpassing expectations, with revenues of $1.13 billion, though quarterly revenue decreased 9.4% year-over-year.
• The company's recent quarterly dividend was $0.527, equivalent to an annualized yield of 2.45%, with a payout ratio of 44.42%.

Foster & Motley Inc. grew its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 21.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,830 shares of the technology company's stock after buying an additional 6,684 shares during the period. Foster & Motley Inc.'s holdings in Amdocs were worth $3,461,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alyeska Investment Group L.P. grew its stake in shares of Amdocs by 86.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company's stock worth $143,127,000 after purchasing an additional 781,061 shares during the period. Wellington Management Group LLP increased its holdings in shares of Amdocs by 25.4% during the 4th quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company's stock valued at $228,211,000 after purchasing an additional 543,490 shares in the last quarter. Vanguard Group Inc. grew its position in Amdocs by 16.1% during the fourth quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company's stock valued at $261,756,000 after buying an additional 426,035 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Amdocs by 2,489.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 376,383 shares of the technology company's stock valued at $32,045,000 after buying an additional 361,845 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Amdocs by 32.8% in the fourth quarter. Russell Investments Group Ltd. now owns 979,861 shares of the technology company's stock worth $83,426,000 after acquiring an additional 242,093 shares during the period. Hedge funds and other institutional investors own 92.02% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on DOX shares. Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Wolfe Research started coverage on shares of Amdocs in a research report on Tuesday, July 8th. They issued an "outperform" rating for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $105.33.

Amdocs Price Performance

Shares of NASDAQ DOX traded down $0.87 during trading on Friday, hitting $84.49. The company had a trading volume of 1,027,433 shares, compared to its average volume of 696,984. The stock has a fifty day simple moving average of $90.81 and a two-hundred day simple moving average of $88.65. Amdocs Limited has a fifty-two week low of $78.61 and a fifty-two week high of $95.41. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 1.42 and a beta of 0.52. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business earned $1.56 earnings per share. The company's revenue for the quarter was down 9.4% compared to the same quarter last year. On average, research analysts expect that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, June 30th were paid a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, June 30th. Amdocs's dividend payout ratio is currently 44.42%.

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.