Knightsbridge Asset Management LLC Makes New $290,000 Investment in Amdocs Limited (NASDAQ:DOX)

Knightsbridge Asset Management LLC purchased a new position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,400 shares of the technology company's stock, valued at approximately $290,000.

Other institutional investors have also modified their holdings of the company. Barclays PLC increased its position in shares of Amdocs by 6.3% during the 3rd quarter. Barclays PLC now owns 290,376 shares of the technology company's stock worth $25,402,000 after purchasing an additional 17,097 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Amdocs during the 3rd quarter worth about $130,000. Tidal Investments LLC increased its position in shares of Amdocs by 2.6% during the 3rd quarter. Tidal Investments LLC now owns 113,671 shares of the technology company's stock worth $9,944,000 after purchasing an additional 2,885 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Amdocs by 71.6% during the 3rd quarter. Franklin Resources Inc. now owns 152,230 shares of the technology company's stock worth $13,580,000 after purchasing an additional 63,527 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Amdocs by 6.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,032,867 shares of the technology company's stock worth $90,355,000 after purchasing an additional 63,718 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company's stock.

Amdocs Stock Down 0.1 %

DOX traded down $0.12 during trading hours on Wednesday, hitting $87.99. 147,795 shares of the company's stock were exchanged, compared to its average volume of 704,113. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $93.34. The firm has a 50 day moving average of $86.99 and a 200 day moving average of $87.00. The firm has a market cap of $9.93 billion, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 1.47 and a beta of 0.59. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a return on equity of 18.89% and a net margin of 10.19%. Analysts predict that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, March 31st were issued a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Monday, March 31st. This is a boost from Amdocs's previous quarterly dividend of $0.48. Amdocs's payout ratio is 48.72%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Amdocs from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $101.20.

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.