Amdocs Limited (NASDAQ:DOX) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers boosted its position in Amdocs Limited (NASDAQ:DOX) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 265,394 shares of the technology company’s stock after acquiring an additional 1,939 shares during the quarter. Rhumbline Advisers’ holdings in Amdocs were worth $24,284,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pzena Investment Management LLC boosted its holdings 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 valued at $564,866,000 after acquiring an additional 270,810 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Amdocs by 2.8% in 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 acquiring an additional 87,801 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Amdocs by 16.1% in the fourth quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company’s stock valued at $261,756,000 after acquiring an additional 426,035 shares during the last quarter. Wellington Management Group LLP raised its position in Amdocs by 25.4% in the fourth quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company’s stock valued at $228,211,000 after purchasing an additional 543,490 shares during the period. Finally, Alyeska Investment Group L.P. raised its position in Amdocs by 86.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company’s stock valued at $143,127,000 after purchasing an additional 781,061 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th.

Amdocs Trading Down 0.8%

NASDAQ:DOX opened at $90.98 on Friday. The business’s 50-day moving average is $88.13 and its two-hundred day moving average is $87.31. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20. Amdocs Limited has a 12 month low of $74.41 and a 12 month high of $94.61. The firm has a market capitalization of $10.27 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Wednesday, May 7th. The technology company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.71 by $0.07. Amdocs had a return on equity of 18.89% and a net margin of 10.19%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the company posted $1.56 earnings per share. The firm’s revenue was down 9.4% compared to the same quarter last year. Research analysts predict that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, June 30th will be given a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, June 30th. Amdocs’s payout ratio is 44.21%.

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.