Foster & Motley Inc. Increases Stake in Amdocs Limited $DOX

Foster & Motley Inc. increased its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 21.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 45,764 shares of the technology company’s stock after purchasing an additional 7,934 shares during the period. Foster & Motley Inc.’s holdings in Amdocs were worth $4,176,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC purchased a new stake in shares of Amdocs in the 1st quarter valued at approximately $27,000. Quarry LP increased its position in shares of Amdocs by 42.2% in the 1st quarter. Quarry LP now owns 391 shares of the technology company’s stock valued at $36,000 after purchasing an additional 116 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Amdocs in the 1st quarter valued at approximately $39,000. SVB Wealth LLC purchased a new stake in shares of Amdocs in the 1st quarter valued at approximately $43,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Amdocs by 213.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 700 shares of the technology company’s stock valued at $64,000 after purchasing an additional 477 shares during the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Amdocs Stock Up 0.5%

Shares of NASDAQ:DOX opened at $82.94 on Friday. The stock has a market cap of $9.36 billion, a P/E ratio of 16.82, a P/E/G ratio of 1.37 and a beta of 0.51. The firm has a fifty day moving average price of $84.41 and a 200 day moving average price of $87.43. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. Amdocs Limited has a 1-year low of $78.61 and a 1-year high of $95.41.

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. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Amdocs had a net margin of 11.94% and a return on equity of 19.66%. Amdocs’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 EPS. Sell-side analysts predict 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. Investors of record on Tuesday, September 30th will be paid a dividend of $0.527 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a yield of 2.5%. Amdocs’s dividend payout ratio is currently 42.60%.

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.