New York State Teachers Retirement System Purchases New Position in Amdocs Limited (NASDAQ:DOX)

New York State Teachers Retirement System purchased a new position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,578 shares of the technology company's stock, valued at approximately $930,000.

Other large investors have also modified their holdings of the company. Diversified Trust Co purchased a new stake in Amdocs in the fourth quarter valued at approximately $3,957,000. Legato Capital Management LLC purchased a new stake in Amdocs in the fourth quarter valued at approximately $2,260,000. Xponance Inc. lifted its holdings in shares of Amdocs by 8.4% in the 3rd quarter. Xponance Inc. now owns 4,469 shares of the technology company's stock valued at $378,000 after buying an additional 348 shares during the period. Cookson Peirce & Co. Inc. purchased a new stake in shares of Amdocs in the third quarter worth about $403,000. Finally, Financiere des Professionnels Fonds d investissement inc. grew its holdings in Amdocs by 1.3% during the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 9,790 shares of the technology company's stock worth $860,000 after acquiring an additional 130 shares during the period. Hedge funds and other institutional investors own 92.02% of the company's stock.

Amdocs Stock Performance

Shares of NASDAQ DOX traded up $1.02 during midday trading on Friday, reaching $86.13. 936,315 shares of the stock were exchanged, compared to its average volume of 660,430. The firm has a 50-day simple moving average of $90.10 and a two-hundred day simple moving average of $87.23. Amdocs Limited has a twelve month low of $78.38 and a twelve month high of $99.75. The firm has a market cap of $10.12 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.38 and a beta of 0.69. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.21.

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

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, March 29th will be paid a $0.479 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.92 dividend on an annualized basis and a yield of 2.22%. This is a boost from Amdocs's previous quarterly dividend of $0.44. Amdocs's dividend payout ratio (DPR) is currently 41.11%.

Analyst Upgrades and Downgrades

DOX has been the topic of several recent research reports. Citigroup upped their price objective on Amdocs from $96.00 to $104.00 and gave the stock a "buy" rating in a research report on Wednesday, January 17th. Barclays raised their price objective on shares of Amdocs from $105.00 to $115.00 and gave the stock an "overweight" rating in a research note on Thursday, February 8th. Finally, StockNews.com cut shares of Amdocs from a "strong-buy" rating to a "buy" rating in a research note on Friday, March 15th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Amdocs has an average rating of "Buy" and an average target price of $108.60.

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.