Amdocs Limited (NASDAQ:DOX) Shares Purchased by Steph & Co.

Steph & Co. boosted its stake in shares of Amdocs Limited (NASDAQ:DOX) by 14.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,649 shares of the technology company’s stock after acquiring an additional 837 shares during the quarter. Steph & Co.’s holdings in Amdocs were worth $566,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Envestnet Asset Management Inc. increased its holdings in shares of Amdocs by 6.7% in the second quarter. Envestnet Asset Management Inc. now owns 469,946 shares of the technology company’s stock valued at $37,088,000 after purchasing an additional 29,560 shares during the period. Edgestream Partners L.P. purchased a new position in Amdocs during the 2nd quarter worth $1,542,000. Sargent Investment Group LLC acquired a new stake in shares of Amdocs in the 2nd quarter worth $289,000. Denali Advisors LLC boosted its holdings in shares of Amdocs by 10.1% in the second quarter. Denali Advisors LLC now owns 7,611 shares of the technology company’s stock valued at $601,000 after acquiring an additional 700 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of Amdocs by 208.7% during the second quarter. Amalgamated Bank now owns 20,165 shares of the technology company’s stock worth $1,591,000 after acquiring an additional 13,633 shares during the period. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DOX has been the subject of several analyst reports. StockNews.com cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Barclays reduced their price target on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Stifel Nicolaus started coverage on Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Oppenheimer increased their price objective on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $101.20.

Amdocs Price Performance

Shares of NASDAQ:DOX opened at $84.26 on Thursday. The firm has a market capitalization of $9.51 billion, a price-to-earnings ratio of 19.87, a price-to-earnings-growth ratio of 1.37 and a beta of 0.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.20. The business’s 50 day simple moving average is $86.33 and its 200-day simple moving average is $85.78. Amdocs Limited has a 12 month low of $74.41 and a 12 month high of $94.04.

Amdocs Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.479 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a yield of 2.27%. Amdocs’s payout ratio is 45.28%.

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.