CCM Investment Group LLC Acquires New Shares in Amdocs Limited (NASDAQ:DOX)

CCM Investment Group LLC acquired a new stake in Amdocs Limited (NASDAQ:DOX) in the 1st quarter, Holdings Channel reports. The firm acquired 11,740 shares of the technology company’s stock, valued at approximately $1,062,000.

Several other hedge funds have also recently bought and sold shares of DOX. Cornerstone Planning Group LLC purchased a new position in Amdocs in the 1st quarter valued at approximately $27,000. AdvisorNet Financial Inc increased its stake in Amdocs by 382.9% in the 1st quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company’s stock valued at $31,000 after purchasing an additional 268 shares in the last quarter. NBC Securities Inc. purchased a new position in Amdocs in the 1st quarter valued at approximately $31,000. Cullen Frost Bankers Inc. purchased a new position in Amdocs in the 1st quarter valued at approximately $39,000. Finally, Tower Research Capital LLC TRC increased its position in Amdocs by 55.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company’s stock worth $50,000 after buying an additional 208 shares in the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Stock Performance

Amdocs stock opened at $89.41 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.22. The stock has a fifty day moving average of $90.17 and a two-hundred day moving average of $88.77. The company has a market capitalization of $10.09 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 1.64 and a beta of 0.51. Amdocs Limited has a fifty-two week low of $78.61 and a fifty-two week high of $95.41.

Amdocs (NASDAQ:DOX) last released its quarterly 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. Amdocs had a return on equity of 19.66% and a net margin of 11.94%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the business posted $1.62 earnings per share. Amdocs’s revenue was down 8.4% compared to the same quarter last year. On average, analysts anticipate that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, September 30th. This represents a $2.11 annualized dividend and a dividend yield of 2.4%. Amdocs’s dividend payout ratio (DPR) is 42.80%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DOX shares. Wolfe Research started coverage on Amdocs in a research report on Tuesday, July 8th. They set an “outperform” rating for the company. Wall Street Zen raised Amdocs from a “hold” rating to a “buy” rating in a research report on Sunday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Amdocs presently has a consensus rating of “Buy” and an average price target of $105.33.

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.