Pzena Investment Management LLC Has $587.30 Million Stake in Amdocs Limited (NASDAQ:DOX)

Pzena Investment Management LLC lowered its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 3.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,418,602 shares of the technology company's stock after selling 215,947 shares during the period. Amdocs makes up approximately 2.1% of Pzena Investment Management LLC's holdings, making the stock its 21st biggest position. Pzena Investment Management LLC owned about 5.69% of Amdocs worth $587,302,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. OneDigital Investment Advisors LLC lifted its position in shares of Amdocs by 20.8% during the 1st quarter. OneDigital Investment Advisors LLC now owns 3,026 shares of the technology company's stock worth $277,000 after purchasing an additional 521 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Amdocs by 17.5% during the first quarter. Farther Finance Advisors LLC now owns 988 shares of the technology company's stock valued at $90,000 after acquiring an additional 147 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Amdocs by 7.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,738 shares of the technology company's stock valued at $616,000 after acquiring an additional 490 shares during the period. HighTower Advisors LLC increased its stake in Amdocs by 20.0% during the fourth quarter. HighTower Advisors LLC now owns 15,374 shares of the technology company's stock valued at $1,309,000 after acquiring an additional 2,561 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Amdocs by 55.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company's stock valued at $50,000 after acquiring an additional 208 shares during the period. Institutional investors and hedge funds own 92.02% of the company's stock.

Amdocs Stock Up 0.1%

Shares of DOX traded up $0.11 during midday trading on Friday, hitting $89.42. The stock had a trading volume of 520,370 shares, compared to its average volume of 664,526. The firm has a market cap of $10.09 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 1.48 and a beta of 0.52. The company has a 50 day simple moving average of $91.45 and a two-hundred day simple moving average of $88.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.16 and a quick ratio of 1.16. 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 announced its quarterly earnings data on Wednesday, May 7th. The technology company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.07. Amdocs had a return on equity of 19.52% and a net margin of 11.39%. The company had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter last year, the company earned $1.56 EPS. Amdocs's revenue for the quarter was down 9.4% compared to the same quarter last year. On average, analysts anticipate 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, July 25th. Shareholders of record on Monday, June 30th will be given a dividend of $0.527 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.11 annualized dividend and a yield of 2.36%. Amdocs's dividend payout ratio (DPR) is presently 44.42%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Amdocs from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Wolfe Research began coverage on Amdocs in a research report on Tuesday, July 8th. They set an "outperform" rating on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $105.33.

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.