Jacobs Levy Equity Management Inc. Invests $1.71 Million in Amdocs Limited $DOX

Key Points

• Jacobs Levy Equity Management Inc. has made a new investment in Amdocs Limited, purchasing 18,632 shares valued at approximately $1.7 million, according to its recent SEC filing.
• Amdocs has received a consensus rating of "Buy" from four equities research analysts, with a target price of $105.33.
• The company announced a quarterly dividend of $0.527, representing an annual yield of 2.5%, which will be paid on October 31st.

Jacobs Levy Equity Management Inc. bought a new position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,632 shares of the technology company's stock, valued at approximately $1,705,000.

A number of other hedge funds have also recently bought and sold shares of the company. Cornerstone Planning Group LLC purchased a new position in Amdocs during the first quarter worth approximately $27,000. AdvisorNet Financial Inc raised its stake in Amdocs by 382.9% during the first quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock worth $31,000 after purchasing an additional 268 shares during the period. NBC Securities Inc. purchased a new position in Amdocs during the first quarter worth approximately $31,000. Quarry LP raised its stake in Amdocs by 42.2% during the first quarter. Quarry LP now owns 391 shares of the technology company's stock worth $36,000 after purchasing an additional 116 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new position in Amdocs during the first quarter worth approximately $39,000. Institutional investors and hedge funds own 92.02% of the company's stock.

Wall Street Analysts Forecast Growth

DOX has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Amdocs from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Wolfe Research started coverage on shares of Amdocs in a research note on Tuesday, July 8th. They issued an "outperform" rating on the stock. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $105.33.

Amdocs Stock Down 0.2%

DOX traded down $0.20 during trading hours on Tuesday, reaching $83.98. 609,091 shares of the stock traded hands, compared to its average volume of 802,046. The firm's fifty day simple moving average is $86.85 and its two-hundred day simple moving average is $88.49. The company has a market cap of $9.48 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 1.54 and a beta of 0.54. Amdocs Limited has a fifty-two week low of $78.61 and a fifty-two week high of $95.41. 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 released its quarterly earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share for the quarter, beating analysts' consensus estimates of $1.71 by $0.01. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. Amdocs had a net margin of 11.94% and a return on equity of 19.66%. The business's revenue was down 8.4% on a year-over-year basis. During the same period last year, the business earned $1.62 EPS. As a group, analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Amdocs's dividend payout ratio (DPR) is presently 42.80%.

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.