Strs Ohio Takes $2.72 Million Position in Amdocs Limited $DOX

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

A number of other institutional investors and hedge funds also recently made changes to their positions in DOX. Lazard Asset Management LLC lifted its stake in shares of Amdocs by 30.9% in the 4th quarter. Lazard Asset Management LLC now owns 12,812 shares of the technology company's stock valued at $1,090,000 after purchasing an additional 3,023 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Amdocs by 11.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,076 shares of the technology company's stock valued at $4,689,000 after purchasing an additional 5,713 shares during the period. WBI Investments LLC purchased a new position in shares of Amdocs in the 4th quarter valued at approximately $1,227,000. Vident Advisory LLC lifted its stake in shares of Amdocs by 12.5% in the 4th quarter. Vident Advisory LLC now owns 11,579 shares of the technology company's stock valued at $986,000 after purchasing an additional 1,284 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Amdocs by 69.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 459,830 shares of the technology company's stock valued at $39,150,000 after purchasing an additional 188,129 shares during the period. Hedge funds and other institutional investors own 92.02% of the company's stock.

Amdocs Stock Down 0.8%

Shares of Amdocs stock traded down $0.70 on Friday, reaching $83.79. The company's stock had a trading volume of 1,066,788 shares, compared to its average volume of 766,165. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 1.54 and a beta of 0.54. The firm's fifty day simple moving average is $86.52 and its two-hundred day simple moving average is $88.43. Amdocs Limited has a 52 week low of $78.61 and a 52 week high of $95.41. 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 posted its earnings results on Wednesday, August 6th. The technology company reported $1.72 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the company earned $1.62 EPS. The company's quarterly revenue was down 8.4% compared to the same quarter last year. Equities analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Amdocs's payout ratio is currently 42.80%.

Analysts Set New Price Targets

A number of research analysts have recently commented on DOX shares. Wall Street Zen upgraded Amdocs from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Wolfe Research initiated 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 presently has an average 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.