29,675 Shares in Amdocs Limited $DOX Purchased by Strs Ohio

Key Points

• Strs Ohio acquired a new stake in Amdocs Limited, purchasing 29,675 shares valued at approximately $2.72 million during the 1st quarter.
• Amdocs stock has received an overall "Buy" rating from analysts, with a consensus price target of $105.33.
• The company announced a quarterly dividend of $0.527 per share, representing an annualized yield of 2.5%, to be paid on October 31st.

Strs Ohio bought a new position in Amdocs Limited (NASDAQ:DOX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 29,675 shares of the technology company's stock, valued at approximately $2,715,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cornerstone Planning Group LLC bought a new position in Amdocs in the 1st quarter worth about $27,000. AdvisorNet Financial Inc grew its position in Amdocs by 382.9% in the 1st quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock worth $31,000 after purchasing an additional 268 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of Amdocs in the 1st quarter worth approximately $31,000. Quarry LP lifted its stake in shares of Amdocs by 42.2% in the 1st quarter. Quarry LP now owns 391 shares of the technology company's stock worth $36,000 after acquiring an additional 116 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Amdocs in the 1st quarter worth approximately $39,000. Institutional investors own 92.02% of the company's stock.

Amdocs Stock Down 0.8%

Shares of DOX traded down $0.67 during mid-day trading on Friday, hitting $83.82. 318,724 shares of the company's stock were exchanged, compared to its average volume of 726,263. The firm has a fifty day moving average of $86.61 and a two-hundred day moving average of $88.44. Amdocs Limited has a twelve month low of $78.61 and a twelve month high of $95.41. The stock has a market cap of $9.46 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 1.53 and a beta of 0.54. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The technology company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.71 by $0.01. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Amdocs had a net margin of 11.94% and a return on equity of 19.66%. Amdocs's quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.62 EPS. On average, sell-side analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Dividend Announcement

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

Analyst Upgrades and Downgrades

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

About Amdocs

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.