Verdence Capital Advisors LLC Takes $298,000 Position in Amdocs Limited (NASDAQ:DOX)

Verdence Capital Advisors LLC purchased a new stake in shares of Amdocs Limited (NASDAQ:DOX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,395 shares of the technology company’s stock, valued at approximately $298,000.

Several other hedge funds also recently modified their holdings of DOX. Operose Advisors LLC increased its position in shares of Amdocs by 148.0% during the 3rd quarter. Operose Advisors LLC now owns 310 shares of the technology company’s stock valued at $26,000 after purchasing an additional 185 shares during the period. Oakworth Capital Inc. acquired a new position in shares of Amdocs during the 4th quarter valued at $26,000. VisionPoint Advisory Group LLC grew its holdings in shares of Amdocs by 77.7% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 503 shares of the technology company’s stock worth $42,000 after acquiring an additional 220 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Amdocs by 16,840.0% in the 3rd quarter. Allworth Financial LP now owns 847 shares of the technology company’s stock worth $72,000 after acquiring an additional 842 shares during the last quarter. Finally, Quent Capital LLC grew its holdings in shares of Amdocs by 27.3% in the 4th quarter. Quent Capital LLC now owns 1,148 shares of the technology company’s stock worth $101,000 after acquiring an additional 246 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Citigroup lifted their target price on Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Barclays lifted their target price on Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Finally, StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $108.60.

Amdocs Stock Performance

Shares of DOX stock opened at $86.57 on Wednesday. Amdocs Limited has a 1-year low of $78.38 and a 1-year high of $99.75. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 1.40 and a beta of 0.69. The stock’s fifty day simple moving average is $89.93 and its 200-day simple moving average is $87.33.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.16. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the company posted $1.33 earnings per share. Amdocs’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, sell-side analysts predict that Amdocs Limited will post 5.87 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, March 29th will be given a dividend of $0.479 per share. This is a boost from Amdocs’s previous quarterly dividend of $0.44. The ex-dividend date is Wednesday, March 27th. This represents a $1.92 dividend on an annualized basis and a yield of 2.21%. Amdocs’s dividend payout ratio (DPR) is presently 40.90%.

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.