MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 18,313 Shares of Amdocs Limited $DOX

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Amdocs Limited by 33.3%, acquiring an additional 18,313 shares, making their total holdings 73,389 shares valued at approximately $6.7 million.
• Several institutional investors, including OneDigital Investment Advisors LLC and Farther Finance Advisors LLC, have also boosted their stakes in Amdocs during the first quarter, reflecting strong interest in the company.
• Amdocs recently reported its earnings, surpassing expectations with a $1.72 EPS for the quarter, and announced a quarterly dividend of $0.527, yielding 2.5% annually.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 33.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,389 shares of the technology company's stock after purchasing an additional 18,313 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.07% of Amdocs worth $6,715,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC purchased a new position in Amdocs in the first quarter worth $27,000. AdvisorNet Financial Inc boosted its position in Amdocs by 382.9% during the first quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock valued at $31,000 after buying an additional 268 shares during the period. NBC Securities Inc. bought a new position in shares of Amdocs during the first quarter valued at about $31,000. Quarry LP raised its stake in shares of Amdocs by 42.2% during the first quarter. Quarry LP now owns 391 shares of the technology company's stock valued at $36,000 after acquiring an additional 116 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Amdocs during the first quarter valued at about $39,000. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Amdocs Stock Performance

NASDAQ DOX traded down $0.20 during trading hours on Tuesday, hitting $83.98. 609,091 shares of the company's stock traded hands, compared to its average volume of 802,046. Amdocs Limited has a 52 week low of $78.61 and a 52 week high of $95.41. The business's fifty day moving average price is $86.85 and its two-hundred day moving average price is $88.49. The firm has a market capitalization of $9.48 billion, a P/E ratio of 17.03, a P/E/G ratio of 1.54 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.

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 (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.01. Amdocs had a return on equity of 19.66% and a net margin of 11.94%.The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the company posted $1.62 earnings per share. Amdocs's revenue for the quarter was down 8.4% on a year-over-year basis. Equities research analysts predict that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be 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 is Tuesday, September 30th. Amdocs's payout ratio 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.