Northern Trust Corp Increases Position in Amdocs Limited $DOX

Key Points

• Northern Trust Corp increased its ownership in Amdocs Limited by 4.5%, acquiring an additional 39,915 shares, bringing its total holdings to 920,723 shares valued at approximately $84.25 million.
• Amdocs reported a quarterly earnings per share of $1.72, surpassing analysts' expectations of $1.71, despite a year-over-year revenue decline of 8.4%.
• The company also announced a quarterly dividend of $0.527 per share, indicating a dividend yield of 2.4% and a payout ratio of 42.8%.

Northern Trust Corp lifted its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 920,723 shares of the technology company's stock after purchasing an additional 39,915 shares during the quarter. Northern Trust Corp owned about 0.82% of Amdocs worth $84,246,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DOX. Tower Research Capital LLC TRC boosted its holdings in shares of Amdocs by 55.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company's stock worth $50,000 after purchasing an additional 208 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Amdocs by 8.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 136,979 shares of the technology company's stock worth $11,663,000 after acquiring an additional 10,797 shares during the last quarter. Nebula Research & Development LLC bought a new stake in shares of Amdocs during the 4th quarter worth approximately $652,000. Coldstream Capital Management Inc. lifted its stake in shares of Amdocs by 4.2% during the 4th quarter. Coldstream Capital Management Inc. now owns 26,128 shares of the technology company's stock worth $2,224,000 after acquiring an additional 1,043 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Amdocs during the 4th quarter worth approximately $2,310,000. Hedge funds and other institutional investors own 92.02% of the company's stock.

Analysts Set New Price Targets

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

Amdocs Stock Down 2.9%

NASDAQ DOX traded down $2.54 on Thursday, reaching $84.59. 1,380,274 shares of the stock traded hands, compared to its average volume of 723,875. 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 fifty day moving average price of $88.79 and a 200-day moving average price of $88.77. The company has a market cap of $9.55 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 1.58 and a beta of 0.51. Amdocs Limited has a 12 month low of $78.61 and a 12 month high of $95.41.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its 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 return on equity of 19.66% and a net margin of 11.94%.Amdocs's revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.62 EPS. As a group, 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 issued a $0.527 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.5%. Amdocs's dividend payout ratio (DPR) is currently 42.80%.

Amdocs 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.