4,025 Shares in Amdocs Limited $DOX Acquired by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC acquired 4,025 shares of Amdocs Limited, valued at approximately $368,000, during the first quarter, marking a new investment position in the technology company.
• Amdocs is set to pay a quarterly dividend of $0.527 on October 31st, representing a yield of 2.5% and a dividend payout ratio of 42.80%.
• Analysts have rated Amdocs with a consensus rating of "Buy" and a price target of $105.33, following recent upgrades from several equity research firms.

Magnetar Financial LLC bought a new position in Amdocs Limited (NASDAQ:DOX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,025 shares of the technology company's stock, valued at approximately $368,000.

A number of other institutional investors and hedge funds also recently modified their holdings of DOX. Cornerstone Planning Group LLC purchased a new position in Amdocs in the first quarter worth $27,000. AdvisorNet Financial Inc raised its stake 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 purchasing an additional 268 shares during the period. NBC Securities Inc. bought a new stake in shares of Amdocs during the 1st quarter worth $31,000. Cullen Frost Bankers Inc. purchased a new position in shares of Amdocs in the 1st quarter worth about $39,000. Finally, SVB Wealth LLC bought a new position in Amdocs during the first quarter valued at about $43,000. 92.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a report on Sunday, August 10th. Wolfe Research began coverage on shares of Amdocs in a research note on Tuesday, July 8th. They set an "outperform" rating for the company. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $105.33.

Amdocs Stock Performance

Shares of NASDAQ DOX traded up $1.40 during midday trading on Friday, hitting $86.00. The company's stock had a trading volume of 558,592 shares, compared to its average volume of 869,759. The firm has a market capitalization of $9.71 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 1.57 and a beta of 0.54. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23. The stock has a fifty day moving average price of $87.87 and a 200 day moving average price of $88.65. Amdocs Limited has a one year low of $78.61 and a one year high of $95.41.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly earnings data 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. Amdocs had a net margin of 11.94% and a return on equity of 19.66%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the business earned $1.62 EPS. Amdocs's revenue was down 8.4% compared to the same quarter last year. On average, research analysts forecast that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a $0.527 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.11 annualized dividend and a dividend yield of 2.5%. Amdocs's payout ratio is 42.80%.

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.