NewEdge Advisors LLC Buys 9,610 Shares of Amdocs Limited (NASDAQ:DOX)

NewEdge Advisors LLC increased its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 189.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,689 shares of the technology company's stock after buying an additional 9,610 shares during the period. NewEdge Advisors LLC's holdings in Amdocs were worth $1,251,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DOX. United Capital Financial Advisors LLC acquired a new position in Amdocs in the 4th quarter worth about $209,000. Causeway Capital Management LLC bought a new position in Amdocs in the fourth quarter valued at about $544,000. Townsquare Capital LLC raised its position in Amdocs by 7.4% in the fourth quarter. Townsquare Capital LLC now owns 6,056 shares of the technology company's stock valued at $516,000 after purchasing an additional 418 shares during the last quarter. Sterling Capital Management LLC raised its position in Amdocs by 52.7% in the fourth quarter. Sterling Capital Management LLC now owns 6,670 shares of the technology company's stock valued at $568,000 after purchasing an additional 2,302 shares during the last quarter. Finally, Scotia Capital Inc. raised its position in Amdocs by 22.7% in the fourth quarter. Scotia Capital Inc. now owns 3,942 shares of the technology company's stock valued at $336,000 after purchasing an additional 729 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Stock Up 0.5 %

Shares of NASDAQ:DOX traded up $0.47 during mid-day trading on Wednesday, hitting $88.58. 691,295 shares of the company traded hands, compared to its average volume of 706,390. The stock has a market cap of $10.00 billion, a P/E ratio of 20.55, a P/E/G 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 Limited has a 12-month low of $74.41 and a 12-month high of $93.34. The stock has a 50-day moving average price of $87.00 and a two-hundred day moving average price of $87.01.

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

Amdocs Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 31st were given a $0.527 dividend. This is a positive change from Amdocs's previous quarterly dividend of $0.48. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Monday, March 31st. Amdocs's dividend payout ratio (DPR) is 48.72%.

Analyst Upgrades and Downgrades

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