Rice Hall James & Associates LLC Buys 112,070 Shares of Amdocs Limited (NASDAQ:DOX)

Rice Hall James & Associates LLC grew its stake in shares of Amdocs Limited (NASDAQ:DOX) by 73.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,728 shares of the technology company’s stock after buying an additional 112,070 shares during the period. Amdocs accounts for about 1.4% of Rice Hall James & Associates LLC’s investment portfolio, making the stock its 22nd largest position. Rice Hall James & Associates LLC owned about 0.23% of Amdocs worth $24,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alyeska Investment Group L.P. increased 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 worth $143,127,000 after purchasing an additional 781,061 shares during the last quarter. Wellington Management Group LLP boosted its stake in Amdocs by 25.4% during the fourth quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company’s stock worth $228,211,000 after buying an additional 543,490 shares during the period. Vanguard Group Inc. boosted its stake in Amdocs by 16.1% during 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 during the period. The Manufacturers Life Insurance Company boosted its stake in 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 worth $32,045,000 after buying an additional 361,845 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Amdocs by 32.8% during the fourth quarter. Russell Investments Group Ltd. now owns 979,861 shares of the technology company’s stock worth $83,426,000 after buying an additional 242,093 shares during the period. Institutional investors own 92.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on DOX shares. Wolfe Research started coverage on shares of Amdocs in a research note on Tuesday, July 8th. They set an “outperform” rating for the company. Wall Street Zen raised shares of Amdocs from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $105.33.

Amdocs Stock Performance

DOX stock opened at $88.26 on Monday. 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 business has a 50-day moving average price of $91.63 and a 200 day moving average price of $88.34. The company has a market capitalization of $9.96 billion, a P/E ratio of 18.58, a PEG ratio of 1.46 and a beta of 0.52. Amdocs Limited has a 1-year low of $78.61 and a 1-year high of $95.41.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Wednesday, May 7th. The technology company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.07. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Amdocs had a return on equity of 19.52% and a net margin of 11.39%. The firm’s quarterly revenue was down 9.4% on a year-over-year basis. During the same period in the previous year, the company 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 company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, June 30th will be issued a $0.527 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a yield of 2.39%. Amdocs’s dividend payout ratio is presently 44.21%.

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.