The Manufacturers Life Insurance Company Raises Stock Position in Amdocs Limited (NASDAQ:DOX)

The Manufacturers Life Insurance Company boosted its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 2,489.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 376,383 shares of the technology company's stock after buying an additional 361,845 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.33% of Amdocs worth $32,045,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in DOX. Pzena Investment Management LLC lifted its stake in Amdocs by 4.3% in the fourth quarter. Pzena Investment Management LLC now owns 6,634,549 shares of the technology company's stock worth $564,866,000 after acquiring an additional 270,810 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Amdocs by 2.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,263,591 shares of the technology company's stock valued at $274,681,000 after buying an additional 87,801 shares during the period. Vanguard Group Inc. raised its stake in Amdocs by 16.1% in the fourth quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company's stock worth $261,756,000 after buying an additional 426,035 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Amdocs by 25.4% in the 4th quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company's stock worth $228,211,000 after acquiring an additional 543,490 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Amdocs by 7.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company's stock valued at $154,587,000 after buying an additional 125,654 shares during the last quarter. Institutional investors own 92.02% of the company's stock.

Amdocs Stock Performance

NASDAQ DOX traded up $0.76 during trading hours on Friday, reaching $89.39. The stock had a trading volume of 404,371 shares, compared to its average volume of 700,905. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $93.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. The stock has a market cap of $10.09 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 1.47 and a beta of 0.59. The stock has a fifty day moving average of $87.01 and a 200 day moving average of $87.00.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 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%. Sell-side analysts predict 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. Shareholders of record on Monday, March 31st were issued a $0.527 dividend. This is a boost from Amdocs's previous quarterly dividend of $0.48. The ex-dividend date was Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 2.36%. Amdocs's payout ratio is presently 48.72%.

Analysts Set New Price Targets

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

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.