Teachers Retirement System of The State of Kentucky Purchases 17,460 Shares of Amdocs Limited (NASDAQ:DOX)

Teachers Retirement System of The State of Kentucky raised its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 261,410 shares of the technology company's stock after acquiring an additional 17,460 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.23% of Amdocs worth $22,257,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Axxcess Wealth Management LLC raised its stake in shares of Amdocs by 5.4% during the fourth quarter. Axxcess Wealth Management LLC now owns 2,431 shares of the technology company's stock valued at $207,000 after acquiring an additional 124 shares during the last quarter. Principal Securities Inc. grew its position in shares of Amdocs by 10.4% in the 4th quarter. Principal Securities Inc. now owns 1,341 shares of the technology company's stock valued at $114,000 after buying an additional 126 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of Amdocs by 45.6% during the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company's stock worth $48,000 after acquiring an additional 175 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Amdocs by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,621 shares of the technology company's stock valued at $308,000 after acquiring an additional 180 shares during the last quarter. Finally, KFG Wealth Management LLC raised its holdings in Amdocs by 8.2% during the 4th quarter. KFG Wealth Management LLC now owns 2,496 shares of the technology company's stock worth $213,000 after purchasing an additional 189 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Stock Up 0.2 %

NASDAQ DOX traded up $0.19 during trading hours on Friday, hitting $86.01. The company's stock had a trading volume of 478,566 shares, compared to its average volume of 705,945. The company has a market capitalization of $9.71 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 1.47 and a beta of 0.59. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $93.34. The company's 50-day simple moving average is $87.07 and its two-hundred day simple moving average is $87.02. 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 posted 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 return on equity of 18.89% and a net margin of 10.19%. Research analysts anticipate that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, March 31st were issued a $0.527 dividend. This is an increase from Amdocs's previous quarterly dividend of $0.48. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Monday, March 31st. Amdocs's payout ratio is 48.72%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Amdocs from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $101.20.

Amdocs 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.