Insigneo Advisory Services LLC Acquires New Holdings in Amdocs Limited (NASDAQ:DOX)

Insigneo Advisory Services LLC purchased a new position in Amdocs Limited (NASDAQ:DOX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,560 shares of the technology company's stock, valued at approximately $326,000.

Several other hedge funds have also bought and sold shares of the stock. AdvisorNet Financial Inc raised its holdings in shares of Amdocs by 382.9% during the 1st quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock worth $31,000 after acquiring an additional 268 shares in the last quarter. NBC Securities Inc. purchased a new stake in Amdocs during the first quarter valued at $31,000. Jones Financial Companies Lllp purchased a new stake in Amdocs during the fourth quarter valued at $36,000. SBI Securities Co. Ltd. purchased a new stake in Amdocs during the fourth quarter valued at $41,000. Finally, Global Retirement Partners LLC raised its stake in Amdocs by 45.6% during the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company's stock valued at $48,000 after purchasing an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 92.02% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th.

Amdocs Trading Down 1.2%

NASDAQ:DOX traded down $1.13 during midday trading on Friday, hitting $91.23. 786,300 shares of the company traded hands, compared to its average volume of 666,212. The firm's fifty day moving average is $89.85 and its 200-day moving average is $87.85. Amdocs Limited has a 12-month low of $77.17 and a 12-month high of $94.61. The firm has a market capitalization of $10.30 billion, a P/E ratio of 19.21, a P/E/G ratio of 1.51 and a beta of 0.52. The company has a current ratio of 1.16, a quick 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 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 the consensus estimate of $1.12 billion. During the same quarter in the prior year, the firm posted $1.56 earnings per share. The business's revenue for the quarter was down 9.4% on a year-over-year basis. On average, sell-side analysts predict that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, June 30th will be issued a $0.527 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.11 annualized dividend and a dividend yield of 2.31%. Amdocs's payout ratio is 44.42%.

Amdocs Company 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.