Woodline Partners LP Buys Shares of 228,445 Amdocs Limited $DOX

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 stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Cornerstone Planning Group LLC purchased a new position in shares of Amdocs during the first quarter valued at approximately $27,000. AdvisorNet Financial Inc increased its stake in shares of Amdocs by 382.9% during the first 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 stake in shares of Amdocs during the first quarter valued at approximately $31,000. Quarry LP boosted its position in shares of Amdocs by 42.2% during the first quarter. Quarry LP now owns 391 shares of the technology company's stock valued at $36,000 after purchasing an additional 116 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Amdocs during the first quarter valued at approximately $39,000. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Stock Performance

Shares of NASDAQ:DOX traded down $0.19 during midday trading on Tuesday, reaching $83.99. 197,084 shares of the company's stock traded hands, compared to its average volume of 727,275. The company has a market cap of $9.48 billion, a price-to-earnings ratio of 17.04, a P/E/G ratio of 1.55 and a beta of 0.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22. Amdocs Limited has a one year low of $78.61 and a one year high of $95.41. The stock has a 50 day moving average of $87.03 and a 200 day moving average of $88.52.

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

Amdocs Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on DOX shares. Wolfe Research started coverage on Amdocs in a research report on Tuesday, July 8th. They set an "outperform" rating on the stock. Wall Street Zen upgraded Amdocs from a "hold" rating to a "buy" rating in a research report on Sunday, August 10th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Amdocs currently has an average rating of "Buy" and a consensus target price of $105.33.

Amdocs Company 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.