Amdocs Limited (NASDAQ:DOX) Stake Raised by Moran Wealth Management LLC

Moran Wealth Management LLC grew its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 946.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,837 shares of the technology company’s stock after buying an additional 74,019 shares during the period. Moran Wealth Management LLC owned 0.07% of Amdocs worth $7,488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Alyeska Investment Group L.P. increased its stake in shares of Amdocs by 86.8% during 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 acquiring an additional 781,061 shares during the period. Wellington Management Group LLP increased its stake in shares of Amdocs by 25.4% during 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 acquiring an additional 543,490 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Amdocs during the fourth quarter valued at approximately $44,494,000. Vanguard Group Inc. increased its stake in shares of Amdocs by 16.1% during 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 period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Amdocs by 2,489.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 376,383 shares of the technology company’s stock valued at $32,045,000 after acquiring an additional 361,845 shares during the period. Institutional investors own 92.02% of the company’s stock.

Amdocs Price Performance

NASDAQ DOX opened at $92.62 on Wednesday. Amdocs Limited has a 12 month low of $77.17 and a 12 month high of $95.41. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $10.46 billion, a PE ratio of 19.50, a P/E/G ratio of 1.52 and a beta of 0.52. The company’s 50 day simple moving average is $90.00 and its 200 day simple moving average is $87.89.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.07. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Amdocs had a net margin of 11.39% and a return on equity of 19.52%. The firm’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.56 earnings per share. As a group, equities research analysts forecast that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, June 30th will be given a $0.527 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.11 annualized dividend and a yield of 2.28%. Amdocs’s dividend payout ratio (DPR) is 44.42%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Amdocs from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th.

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.