Nordea Investment Management AB Buys 287,235 Shares of Amdocs Limited $DOX

Key Points

• Nordea Investment Management AB increased its ownership in Amdocs Limited by 18.0%, acquiring an additional 287,235 shares, bringing its total to approximately 1.88 million shares valued at $170.8 million.
• Amdocs recently reported quarterly earnings of $1.72 per share, slightly exceeding analyst expectations, despite an 8.4% year-over-year decline in revenue.
• The firm declared a quarterly dividend of $0.527, with a dividend yield of 2.5%, scheduled for distribution on October 31st to shareholders of record as of September 30th.

Nordea Investment Management AB increased its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 18.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,879,023 shares of the technology company's stock after purchasing an additional 287,235 shares during the period. Nordea Investment Management AB owned approximately 1.66% of Amdocs worth $170,803,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Allianz Asset Management GmbH raised its stake in shares of Amdocs by 13.0% during the second quarter. Allianz Asset Management GmbH now owns 501,809 shares of the technology company's stock worth $45,785,000 after acquiring an additional 57,705 shares in the last quarter. Mutual Advisors LLC lifted its position in Amdocs by 3.2% during the second quarter. Mutual Advisors LLC now owns 4,516 shares of the technology company's stock valued at $397,000 after buying an additional 138 shares during the period. Ritholtz Wealth Management lifted its position in Amdocs by 445.4% during the second quarter. Ritholtz Wealth Management now owns 17,425 shares of the technology company's stock valued at $1,590,000 after buying an additional 14,230 shares during the period. Bayforest Capital Ltd purchased a new position in Amdocs during the second quarter valued at $80,000. Finally, Boston Trust Walden Corp raised its position in shares of Amdocs by 5.9% in the 2nd quarter. Boston Trust Walden Corp now owns 678,929 shares of the technology company's stock worth $61,945,000 after purchasing an additional 37,835 shares during the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Stock Up 0.5%

Shares of DOX opened at $82.94 on Friday. The stock has a market capitalization of $9.36 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 1.37 and a beta of 0.51. Amdocs Limited has a 1 year low of $78.61 and a 1 year high of $95.41. The business's 50 day simple moving average is $84.41 and its 200-day simple moving average is $87.43. 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 issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.72 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $1.13 billion. During the same period in the prior year, the firm earned $1.62 EPS. The company's revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities analysts expect that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The firm also recently disclosed 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 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Amdocs's dividend payout ratio is 42.60%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on DOX shares. Wall Street Zen raised Amdocs from a "hold" rating to a "buy" rating in a research report on Saturday, October 11th. Weiss Ratings restated a "hold (c+)" rating on shares of Amdocs in a research note on Wednesday, October 8th. Finally, Wolfe Research started coverage on Amdocs in a research note on Tuesday, July 8th. They set an "outperform" rating for the company. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Amdocs currently has an average rating of "Moderate Buy" and an average target price of $108.00.

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.

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