Russell Investments Group Ltd. Acquires 242,093 Shares of Amdocs Limited (NASDAQ:DOX)

Russell Investments Group Ltd. increased its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 32.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 979,861 shares of the technology company’s stock after purchasing an additional 242,093 shares during the period. Russell Investments Group Ltd.’s holdings in Amdocs were worth $83,426,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of DOX. Charles Schwab Investment Management Inc. lifted its holdings in shares of Amdocs by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 207,137 shares of the technology company’s stock worth $18,120,000 after acquiring an additional 11,179 shares during the last quarter. Cerity Partners LLC lifted its stake in Amdocs by 15.1% in the 3rd quarter. Cerity Partners LLC now owns 7,652 shares of the technology company’s stock valued at $669,000 after purchasing an additional 1,004 shares during the last quarter. Chevy Chase Trust Holdings LLC boosted its position in Amdocs by 34.8% in the third quarter. Chevy Chase Trust Holdings LLC now owns 8,900 shares of the technology company’s stock valued at $779,000 after buying an additional 2,300 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Amdocs by 2.1% during the third quarter. HighTower Advisors LLC now owns 12,813 shares of the technology company’s stock worth $1,122,000 after buying an additional 265 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its holdings in shares of Amdocs by 77.1% during the third quarter. Integrated Wealth Concepts LLC now owns 19,379 shares of the technology company’s stock worth $1,695,000 after buying an additional 8,439 shares in the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Amdocs has an average rating of “Moderate Buy” and a consensus price target of $101.20.

Amdocs Trading Down 5.2 %

Shares of NASDAQ DOX opened at $83.70 on Friday. The stock has a market cap of $9.45 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.47 and a beta of 0.68. The firm has a 50 day moving average price of $88.29 and a two-hundred day moving average price of $87.45. 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 52-week low of $74.41 and a 52-week high of $93.34.

Amdocs (NASDAQ:DOX) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a return on equity of 18.89% and a net margin of 10.19%. As a group, equities analysts forecast that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be given a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s dividend payout ratio is currently 48.72%.

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.