Synovus Financial Corp Buys New Position in Amdocs Limited $DOX

Key Points

• Synovus Financial Corp has acquired 5,062 shares of Amdocs Limited, valued at approximately $463,000, marking a new position for the fund in Q1.
• Amdocs has declared a quarterly dividend of $0.527 to be paid on October 31st, which represents an annualized yield of 2.5%.
• The company reported $1.72 EPS for the quarter, slightly above expectations, while revenue decreased by 8.4% compared to the previous year.

Synovus Financial Corp purchased a new stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,062 shares of the technology company's stock, valued at approximately $463,000.

Other institutional investors have also bought and sold shares of the company. Cornerstone Planning Group LLC bought a new stake in Amdocs during the first quarter valued at $27,000. AdvisorNet Financial Inc boosted its stake in Amdocs by 382.9% during the first quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock worth $31,000 after acquiring an additional 268 shares in the last quarter. NBC Securities Inc. bought a new position in Amdocs during the first quarter worth $31,000. Cullen Frost Bankers Inc. bought a new position in Amdocs during the first quarter worth $39,000. Finally, SVB Wealth LLC bought a new position in Amdocs during the first quarter worth $43,000. Institutional investors own 92.02% of the company's stock.

Analyst Ratings Changes

DOX has been the topic of several research analyst reports. Wolfe Research initiated coverage on shares of Amdocs in a research note on Tuesday, July 8th. They set an "outperform" rating on the stock. Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a report on Sunday, August 10th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $105.33.

Amdocs Stock Performance

NASDAQ:DOX traded up $0.98 on Friday, reaching $85.57. 1,357,151 shares of the company's stock were exchanged, compared to its average volume of 950,551. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 1.57 and a beta of 0.54. Amdocs Limited has a 52 week low of $78.61 and a 52 week high of $95.41. The stock has a fifty day simple moving average of $88.52 and a 200-day simple moving average of $88.79.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.01. Amdocs had a net margin of 11.94% and a return on equity of 19.66%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the business earned $1.62 earnings per share. Amdocs's revenue was down 8.4% compared to the same quarter last year. As a group, sell-side analysts predict that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 30th. Amdocs's dividend payout ratio (DPR) is 42.80%.

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.