Amdocs Limited $DOX Shares Purchased by Ethic Inc.

Ethic Inc. increased its position in shares of Amdocs Limited (NASDAQ:DOX) by 28.5% during the second quarter, Holdings Channel.com reports. The fund owned 20,575 shares of the technology company’s stock after acquiring an additional 4,559 shares during the quarter. Ethic Inc.’s holdings in Amdocs were worth $1,872,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. William Blair Investment Management LLC grew its holdings in Amdocs by 2.4% during the second quarter. William Blair Investment Management LLC now owns 5,650 shares of the technology company’s stock worth $516,000 after acquiring an additional 133 shares during the period. Foster & Motley Inc. grew its holdings in Amdocs by 21.0% during the second quarter. Foster & Motley Inc. now owns 45,764 shares of the technology company’s stock worth $4,176,000 after acquiring an additional 7,934 shares during the period. Nordea Investment Management AB grew its holdings in Amdocs by 18.0% during the second quarter. Nordea Investment Management AB now owns 1,879,023 shares of the technology company’s stock worth $170,803,000 after acquiring an additional 287,235 shares during the period. Allianz Asset Management GmbH grew its holdings in Amdocs by 13.0% during the second quarter. Allianz Asset Management GmbH now owns 501,809 shares of the technology company’s stock worth $45,785,000 after acquiring an additional 57,705 shares during the period. Finally, Mutual Advisors LLC grew its holdings in Amdocs by 3.2% during the second quarter. Mutual Advisors LLC now owns 4,516 shares of the technology company’s stock worth $397,000 after acquiring an additional 138 shares during the period. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Trading Down 0.1%

Shares of DOX opened at $83.42 on Friday. The business’s 50-day moving average price is $84.03 and its 200 day moving average price is $87.42. The stock has a market capitalization of $9.42 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.39 and a beta of 0.51. Amdocs Limited has a 1-year low of $78.61 and a 1-year high of $95.41. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23.

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

Amdocs Announces Dividend

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

Analyst Ratings Changes

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

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.