Amdocs Limited (NASDAQ:DOX) Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its position in Amdocs Limited (NASDAQ:DOX) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 123,278 shares of the technology company’s stock after purchasing an additional 4,982 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.11% of Amdocs worth $10,835,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in DOX. Oakworth Capital Inc. acquired a new stake in Amdocs during the 4th quarter worth approximately $26,000. Operose Advisors LLC lifted its position in Amdocs by 148.0% during 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. VisionPoint Advisory Group LLC lifted its position in Amdocs by 77.7% during 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. Allworth Financial LP lifted its position in Amdocs by 16,840.0% during 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. Finally, Quent Capital LLC lifted its holdings in shares of Amdocs by 27.3% in the 4th quarter. Quent Capital LLC now owns 1,148 shares of the technology company’s stock valued at $101,000 after buying an additional 246 shares during the period. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Price Performance

Amdocs stock traded up $0.40 during mid-day trading on Tuesday, hitting $86.71. 122,910 shares of the company were exchanged, compared to its average volume of 650,214. Amdocs Limited has a 12-month low of $78.38 and a 12-month high of $99.75. The business’s 50 day simple moving average is $89.96 and its two-hundred day simple moving average is $87.31. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market capitalization of $10.19 billion, a P/E ratio of 18.57, a PEG ratio of 1.40 and a beta of 0.69.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.16. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter last year, the firm earned $1.33 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. Analysts forecast that Amdocs Limited will post 5.87 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, March 29th will be given a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from Amdocs’s previous quarterly dividend of $0.44. Amdocs’s payout ratio is 41.11%.

Wall Street Analysts Forecast Growth

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

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.