MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 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. increased its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 33.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,389 shares of the technology company's stock after buying an additional 18,313 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.07% of Amdocs worth $6,715,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP increased its position in Amdocs by 42.2% during the 1st quarter. Quarry LP now owns 391 shares of the technology company's stock worth $36,000 after purchasing an additional 116 shares in the last quarter. MAI Capital Management increased its holdings in shares of Amdocs by 9.7% during the first quarter. MAI Capital Management now owns 1,625 shares of the technology company's stock valued at $149,000 after purchasing an additional 144 shares during the period. Farther Finance Advisors LLC grew its holdings in Amdocs by 17.5% during the first quarter. Farther Finance Advisors LLC now owns 988 shares of the technology company's stock worth $90,000 after acquiring an additional 147 shares during the period. Corbyn Investment Management Inc. MD grew its holdings in Amdocs by 0.4% during the first quarter. Corbyn Investment Management Inc. MD now owns 38,866 shares of the technology company's stock worth $3,556,000 after acquiring an additional 152 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Amdocs by 3.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,247 shares of the technology company's stock valued at $480,000 after purchasing an additional 177 shares during the period. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Price Performance

Amdocs stock traded down $0.33 on Friday, reaching $85.00. The company's stock had a trading volume of 555,419 shares, compared to its average volume of 810,267. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market cap of $9.60 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 1.56 and a beta of 0.54. The business's fifty day moving average price is $87.18 and its 200 day moving average price is $88.54. Amdocs Limited has a twelve month low of $78.61 and a twelve month high of $95.41.

Amdocs (NASDAQ:DOX - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the firm posted $1.62 earnings per share. The firm's revenue for the quarter was down 8.4% compared to the same quarter last year. Equities analysts expect that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.