Rice Hall James & Associates LLC Has $24.13 Million Stock Position in Amdocs Limited (NASDAQ:DOX)

Rice Hall James & Associates LLC boosted its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 73.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 263,728 shares of the technology company's stock after purchasing an additional 112,070 shares during the quarter. Amdocs accounts for about 1.4% of Rice Hall James & Associates LLC's portfolio, making the stock its 22nd largest holding. Rice Hall James & Associates LLC owned approximately 0.23% of Amdocs worth $24,131,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Cornerstone Planning Group LLC bought a new position in Amdocs in the 1st quarter valued at about $27,000. AdvisorNet Financial Inc increased its holdings in Amdocs by 382.9% in the 1st 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 Amdocs in the 1st quarter valued at about $31,000. Jones Financial Companies Lllp bought a new position in Amdocs in the 4th quarter valued at about $36,000. Finally, Tower Research Capital LLC TRC increased its holdings in Amdocs by 55.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company's stock valued at $50,000 after buying an additional 208 shares during the period. Institutional investors and hedge funds own 92.02% of the company's stock.

Amdocs Price Performance

Shares of Amdocs stock traded up $0.14 during midday trading on Thursday, hitting $89.31. 453,256 shares of the company traded hands, compared to its average volume of 664,323. The stock has a market cap of $10.08 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 1.47 and a beta of 0.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.16 and a current ratio of 1.16. The firm's fifty day moving average price is $91.56 and its 200-day moving average price is $88.37. 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 posted its earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.71 by $0.07. Amdocs had a net margin of 11.39% and a return on equity of 19.52%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the firm posted $1.56 EPS. The company's revenue for the quarter was down 9.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, June 30th will be given a $0.527 dividend. This represents a $2.11 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Monday, June 30th. Amdocs's dividend payout ratio (DPR) is currently 44.42%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DOX shares. Wall Street Zen raised shares of Amdocs from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Wolfe Research started coverage on shares of Amdocs in a report on Tuesday, July 8th. They set an "outperform" rating on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently 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.