DekaBank Deutsche Girozentrale Increases Position in Amdocs Limited (NASDAQ:DOX)

DekaBank Deutsche Girozentrale grew its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 48.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,798 shares of the technology company's stock after purchasing an additional 30,503 shares during the period. DekaBank Deutsche Girozentrale owned about 0.08% of Amdocs worth $8,066,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. acquired a new stake in Amdocs in the 1st quarter worth $7,002,000. Raymond James Financial Services Advisors Inc. increased its stake in Amdocs by 6.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 11,833 shares of the technology company's stock worth $973,000 after purchasing an additional 665 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Amdocs by 40.5% during the first quarter. PNC Financial Services Group Inc. now owns 13,332 shares of the technology company's stock worth $1,097,000 after acquiring an additional 3,840 shares during the period. Great West Life Assurance Co. Can raised its stake in shares of Amdocs by 3.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 46,252 shares of the technology company's stock valued at $4,041,000 after purchasing an additional 1,446 shares during the period. Finally, Yousif Capital Management LLC lifted its stake in Amdocs by 6.4% in the 1st quarter. Yousif Capital Management LLC now owns 6,770 shares of the technology company's stock valued at $557,000 after acquiring an additional 405 shares in the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DOX. Citigroup boosted their price target on Amdocs from $96.00 to $104.00 and gave the company a "buy" rating in a research note on Wednesday, January 17th. StockNews.com cut Amdocs from a "strong-buy" rating to a "buy" rating in a report on Friday, March 15th. Finally, Barclays increased their price target on Amdocs from $105.00 to $115.00 and gave the company an "overweight" rating in a research report on Thursday, February 8th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Amdocs has an average rating of "Buy" and an average price target of $108.60.

Amdocs Stock Up 0.1 %

Shares of NASDAQ:DOX traded up $0.13 during midday trading on Thursday, reaching $87.34. The company's stock had a trading volume of 583,050 shares, compared to its average volume of 669,891. Amdocs Limited has a 12-month low of $78.38 and a 12-month high of $99.75. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $90.85 and a 200-day moving average of $87.24. The firm has a market capitalization of $10.27 billion, a P/E ratio of 18.70, a PEG ratio of 1.42 and a beta of 0.69.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.40 by $0.16. The firm had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.24 billion. Amdocs had a net margin of 11.30% and a return on equity of 17.79%. The business's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.33 earnings per share. On average, research analysts anticipate that Amdocs Limited will post 5.87 earnings per share for the current year.

Amdocs Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, March 29th will be given a dividend of $0.479 per share. This is an increase from Amdocs's previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Wednesday, March 27th. Amdocs's dividend payout ratio is currently 41.11%.

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.