Amdocs Limited (NASDAQ:DOX) Position Increased by Riverwater Partners LLC

Riverwater Partners LLC lifted its position in Amdocs Limited (NASDAQ:DOX) by 2.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,458 shares of the technology company’s stock after buying an additional 236 shares during the quarter. Riverwater Partners LLC’s holdings in Amdocs were worth $745,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in DOX. Pzena Investment Management LLC lifted its stake in Amdocs by 33.2% in the 2nd quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock worth $447,287,000 after acquiring an additional 1,412,826 shares in the last quarter. LSV Asset Management lifted its position in shares of Amdocs by 7.9% in the second quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock worth $253,109,000 after purchasing an additional 234,096 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Amdocs by 36.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company’s stock worth $277,818,000 after purchasing an additional 851,022 shares during the period. Brandes Investment Partners LP grew its position in Amdocs by 31.1% during the second quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock valued at $178,335,000 after purchasing an additional 536,359 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Amdocs by 39.5% in the 1st quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock valued at $183,771,000 after buying an additional 576,168 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DOX shares. StockNews.com raised shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Stifel Nicolaus initiated coverage on Amdocs in a research report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price objective for the company. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $102.00.

Amdocs Stock Performance

Shares of DOX opened at $89.65 on Thursday. The firm has a market cap of $10.54 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74. The company’s fifty day moving average is $86.86 and its 200-day moving average is $83.57. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. Amdocs Limited has a 12 month low of $74.41 and a 12 month high of $94.04.

Amdocs (NASDAQ:DOX) last posted its earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.02. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the company earned $1.41 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year. Equities analysts expect that Amdocs Limited will post 5.67 EPS for the current fiscal year.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be given a dividend of $0.479 per share. The ex-dividend date is Monday, September 30th. This represents a $1.92 dividend on an annualized basis and a yield of 2.14%. Amdocs’s payout ratio is currently 42.92%.

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.