9,229 Shares in Amdocs Limited (NASDAQ:DOX) Bought by CX Institutional

CX Institutional acquired a new position in shares of Amdocs Limited (NASDAQ:DOX) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 9,229 shares of the technology company’s stock, valued at approximately $844,000.

Other hedge funds have also recently made changes to their positions in the company. AdvisorNet Financial Inc raised its stake in Amdocs by 382.9% in the first quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company’s stock valued at $31,000 after buying an additional 268 shares during the last quarter. NBC Securities Inc. purchased a new stake in Amdocs in the first quarter valued at about $31,000. Jones Financial Companies Lllp purchased a new stake in Amdocs in the fourth quarter valued at about $36,000. SBI Securities Co. Ltd. purchased a new stake in Amdocs in the fourth quarter valued at about $41,000. Finally, Global Retirement Partners LLC raised its stake in Amdocs by 45.6% in the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock valued at $48,000 after buying an additional 175 shares during the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Trading Up 0.6%

Amdocs stock opened at $94.08 on Friday. The stock has a 50-day moving average of $88.47 and a two-hundred day moving average of $87.59. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. Amdocs Limited has a one year low of $74.41 and a one year high of $94.61. The stock has a market cap of $10.62 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52.

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

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, June 30th will be issued a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Monday, June 30th. Amdocs’s dividend payout ratio is presently 44.21%.

Analysts Set New Price Targets

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

About Amdocs

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.