Amdocs Limited $DOX Shares Purchased by Ethic Inc.

Ethic Inc. increased its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 28.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,575 shares of the technology company’s stock after purchasing an additional 4,559 shares during the quarter. Ethic Inc.’s holdings in Amdocs were worth $1,872,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DOX. Cambridge Investment Research Advisors Inc. increased its position in Amdocs by 7.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,738 shares of the technology company’s stock worth $616,000 after purchasing an additional 490 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in Amdocs by 4.6% during the first quarter. Illinois Municipal Retirement Fund now owns 122,335 shares of the technology company’s stock worth $11,194,000 after purchasing an additional 5,367 shares during the last quarter. Money Concepts Capital Corp lifted its stake in Amdocs by 22.7% during the first quarter. Money Concepts Capital Corp now owns 8,246 shares of the technology company’s stock worth $754,000 after purchasing an additional 1,526 shares during the last quarter. Carolina Wealth Advisors LLC bought a new position in Amdocs during the first quarter worth $6,581,000. Finally, Hixon Zuercher LLC lifted its stake in Amdocs by 2.9% during the first quarter. Hixon Zuercher LLC now owns 39,853 shares of the technology company’s stock worth $3,647,000 after purchasing an additional 1,106 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wolfe Research assumed coverage on Amdocs in a research note on Tuesday, July 8th. They set an “outperform” rating on the stock. Wall Street Zen upgraded Amdocs from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Amdocs in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $108.00.

Amdocs Price Performance

Shares of NASDAQ DOX opened at $83.42 on Friday. Amdocs Limited has a 1-year low of $78.61 and a 1-year high of $95.41. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. The business’s fifty day moving average price is $84.03 and its two-hundred day moving average price is $87.42. The firm has a market capitalization of $9.42 billion, a PE ratio of 16.92, a P/E/G ratio of 1.39 and a beta of 0.51.

Amdocs (NASDAQ:DOX) last issued its earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.01. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Amdocs had a return on equity of 19.66% and a net margin of 11.94%.The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period last year, the company earned $1.62 earnings per share. On average, research analysts expect that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Amdocs’s dividend payout ratio (DPR) is 42.80%.

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.