Invesco Ltd. Purchases 196,676 Shares of Amdocs Limited $DOX

Key Points

• Invesco Ltd. increased its stake in Amdocs Limited by 49.3% in the first quarter, acquiring 196,676 shares to own a total of 595,941 shares valued at approximately $54.5 million.
• Amdocs reported earnings of $1.72 per share in its latest quarter, exceeding consensus estimates, while also announcing a quarterly dividend of $0.527 per share, representing an annual yield of 2.4%.
• The stock currently has a consensus rating of "Buy" from five investment analysts, with a target price of $105.33.

Invesco Ltd. grew its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 49.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 595,941 shares of the technology company's stock after acquiring an additional 196,676 shares during the period. Invesco Ltd. owned about 0.53% of Amdocs worth $54,529,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Farther Finance Advisors LLC raised its position in shares of Amdocs by 17.5% during the 1st quarter. Farther Finance Advisors LLC now owns 988 shares of the technology company's stock worth $90,000 after purchasing an additional 147 shares during the last quarter. Corbyn Investment Management Inc. MD grew its stake in shares of Amdocs by 0.4% during the 1st quarter. Corbyn Investment Management Inc. MD now owns 38,866 shares of the technology company's stock valued at $3,556,000 after buying an additional 152 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Amdocs by 3.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,247 shares of the technology company's stock valued at $480,000 after buying an additional 177 shares during the period. Denali Advisors LLC boosted its position in Amdocs by 3.6% during the 1st quarter. Denali Advisors LLC now owns 5,810 shares of the technology company's stock worth $532,000 after purchasing an additional 200 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in Amdocs by 55.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company's stock worth $50,000 after purchasing an additional 208 shares during the period. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on DOX. Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a report on Sunday, August 10th. Wolfe Research initiated coverage on shares of Amdocs in a research note on Tuesday, July 8th. They set an "outperform" rating on the stock. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Amdocs has an average rating of "Buy" and an average target price of $105.33.

Amdocs Stock Up 2.3%

DOX stock traded up $1.9550 during midday trading on Friday, reaching $88.5650. The company had a trading volume of 121,797 shares, compared to its average volume of 715,677. Amdocs Limited has a 1 year low of $78.61 and a 1 year high of $95.41. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $10.00 billion, a P/E ratio of 17.91, a PEG ratio of 1.59 and a beta of 0.51. The company has a 50 day moving average of $89.22 and a two-hundred day moving average of $88.76.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the business posted $1.62 EPS. Amdocs's quarterly revenue was down 8.4% on a year-over-year basis. On average, equities research analysts expect that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The business also recently declared 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 2.4%. The ex-dividend date is Tuesday, September 30th. Amdocs's dividend payout ratio (DPR) is currently 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.