228,445 Shares in Amdocs Limited $DOX Bought by Woodline Partners LP

Key Points

• Woodline Partners LP has made a significant investment of $20.90 million in Amdocs Limited by acquiring 228,445 shares, representing 0.20% ownership in the company.
• Analysts have recently upgraded Amdocs's rating from "hold" to "buy," with an average target price of $105.33 per share, indicating positive market sentiment.
• Amdocs announced a quarterly dividend of $0.527 per share, resulting in an annualized dividend yield of 2.5%, highlighting the company's commitment to returning value to shareholders.

Woodline Partners LP bought a new position in Amdocs Limited (NASDAQ:DOX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 228,445 shares of the technology company's stock, valued at approximately $20,903,000. Woodline Partners LP owned 0.20% of Amdocs as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Empowered Funds LLC boosted its position in Amdocs by 12.0% during the 1st quarter. Empowered Funds LLC now owns 15,979 shares of the technology company's stock worth $1,462,000 after acquiring an additional 1,709 shares during the period. Signature Estate & Investment Advisors LLC increased its holdings in shares of Amdocs by 362.9% in the 1st quarter. Signature Estate & Investment Advisors LLC now owns 113,985 shares of the technology company's stock valued at $10,430,000 after purchasing an additional 89,362 shares during the period. Ashton Thomas Private Wealth LLC lifted its position in shares of Amdocs by 17.4% in the first quarter. Ashton Thomas Private Wealth LLC now owns 24,578 shares of the technology company's stock worth $2,262,000 after purchasing an additional 3,649 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Amdocs by 12.6% during the first quarter. Goldman Sachs Group Inc. now owns 331,146 shares of the technology company's stock worth $30,300,000 after purchasing an additional 37,087 shares during the period. Finally, USS Investment Management Ltd grew its position in Amdocs by 10.8% during the first quarter. USS Investment Management Ltd now owns 24,761 shares of the technology company's stock valued at $2,266,000 after purchasing an additional 2,416 shares in the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Stock Down 0.4%

DOX stock traded down $0.33 during trading hours on Friday, hitting $85.00. The company's stock had a trading volume of 555,419 shares, compared to its average volume of 810,267. The stock has a 50 day moving average price of $87.18 and a two-hundred day moving average price of $88.54. Amdocs Limited has a 12 month low of $78.61 and a 12 month high of $95.41. The company has a market capitalization of $9.60 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.56 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 released its quarterly earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share for the quarter, beating analysts' consensus estimates of $1.71 by $0.01. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Amdocs had a net margin of 11.94% and a return on equity of 19.66%. Amdocs's revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.62 EPS. On average, equities research analysts expect that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid 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 is Tuesday, September 30th. Amdocs's dividend payout ratio is 42.80%.

Analysts Set New Price Targets

A number of research firms have issued reports on DOX. Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a research report on Sunday, August 10th. Wolfe Research started coverage on shares of Amdocs in a research note on Tuesday, July 8th. They issued an "outperform" rating on the stock. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average target price 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.