Russell Investments Group Ltd. Buys 119,006 Shares of Amdocs Limited (NASDAQ:DOX)

Russell Investments Group Ltd. lifted its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 23.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 635,743 shares of the technology company's stock after buying an additional 119,006 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.54% of Amdocs worth $55,875,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of DOX. GAMMA Investing LLC bought a new position in shares of Amdocs in the 4th quarter worth about $25,000. Operose Advisors LLC increased its holdings in shares of Amdocs by 148.0% in the 3rd quarter. Operose Advisors LLC now owns 310 shares of the technology company's stock worth $26,000 after acquiring an additional 185 shares during the period. Oakworth Capital Inc. acquired a new stake in shares of Amdocs in the 4th quarter worth about $26,000. VisionPoint Advisory Group LLC increased its holdings in shares of Amdocs by 77.7% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 503 shares of the technology company's stock worth $42,000 after acquiring an additional 220 shares during the period. Finally, Allworth Financial LP increased its holdings in shares of Amdocs by 16,840.0% in the 3rd quarter. Allworth Financial LP now owns 847 shares of the technology company's stock worth $72,000 after acquiring an additional 842 shares during the period. 92.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on DOX. Barclays raised their target price on shares of Amdocs from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Thursday, February 8th. StockNews.com cut shares of Amdocs from a "strong-buy" rating to a "buy" rating in a research note on Friday, March 15th. Finally, Citigroup lifted their price objective on shares of Amdocs from $96.00 to $104.00 and gave the stock a "buy" rating in a research note on Wednesday, January 17th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $108.60.

Amdocs Stock Down 0.1 %

NASDAQ DOX traded down $0.11 during trading on Monday, reaching $84.87. The company's stock had a trading volume of 513,776 shares, compared to its average volume of 647,742. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $9.98 billion, a PE ratio of 18.22, a PEG ratio of 1.38 and a beta of 0.69. The business has a 50-day moving average price of $89.62 and a 200-day moving average price of $87.37. Amdocs Limited has a 1-year low of $78.38 and a 1-year high of $99.75.

Amdocs (NASDAQ:DOX - Get Free Report) last released 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. Amdocs had a net margin of 11.30% and a return on equity of 17.79%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the firm posted $1.33 earnings per share. The company's quarterly revenue was up 5.0% compared to the same quarter last year. On average, research analysts forecast that Amdocs Limited will post 5.87 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, March 29th were given a dividend of $0.479 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.92 dividend on an annualized basis and a yield of 2.26%. This is a positive change from Amdocs's previous quarterly dividend of $0.44. Amdocs's payout ratio is 41.11%.

About Amdocs

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.