Wasatch Advisors LP Buys Shares of 21,500 Amdocs Limited (NASDAQ:DOX)

Wasatch Advisors LP acquired a new position in Amdocs Limited (NASDAQ:DOX) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 21,500 shares of the technology company’s stock, valued at approximately $1,943,000.

Other hedge funds also recently made changes to their positions in the company. Bahl & Gaynor Inc. grew its stake in shares of Amdocs by 2.6% in the 4th quarter. Bahl & Gaynor Inc. now owns 377,316 shares of the technology company’s stock worth $33,162,000 after purchasing an additional 9,436 shares during the last quarter. New York State Teachers Retirement System acquired a new position in shares of Amdocs in the fourth quarter worth about $930,000. Royal London Asset Management Ltd. boosted its holdings in shares of Amdocs by 1.9% in the fourth quarter. Royal London Asset Management Ltd. now owns 64,632 shares of the technology company’s stock worth $5,681,000 after buying an additional 1,217 shares during the period. Running Oak Capital LLC boosted its holdings in shares of Amdocs by 15.0% in the first quarter. Running Oak Capital LLC now owns 108,734 shares of the technology company’s stock worth $9,826,000 after buying an additional 14,205 shares during the period. Finally, Stifel Financial Corp boosted its holdings in shares of Amdocs by 2.7% in the fourth quarter. Stifel Financial Corp now owns 950,353 shares of the technology company’s stock worth $83,526,000 after buying an additional 25,300 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Stock Performance

Shares of NASDAQ:DOX traded up $0.75 during trading on Tuesday, reaching $79.42. The stock had a trading volume of 710,959 shares, compared to its average volume of 731,672. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $98.84. The firm has a market capitalization of $9.34 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 1.39 and a beta of 0.74. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $80.25 and a two-hundred day simple moving average of $86.54.

Amdocs (NASDAQ:DOX) last announced its earnings results on Wednesday, May 8th. The technology company reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.05). Amdocs had a return on equity of 17.85% and a net margin of 10.62%. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.25 billion. As a group, analysts anticipate that Amdocs Limited will post 5.72 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.479 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.92 dividend on an annualized basis and a yield of 2.41%. Amdocs’s dividend payout ratio is currently 43.15%.

Analysts Set New Price Targets

Several research firms recently commented on DOX. Citigroup decreased their price target on shares of Amdocs from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Robert W. Baird decreased their price target on shares of Amdocs from $97.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Finally, StockNews.com cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Amdocs currently has an average rating of “Moderate Buy” and an average price target of $103.80.

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.