Amdocs Limited (NASDAQ:DOX) Shares Bought by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. lifted its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 8.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,078 shares of the technology company’s stock after purchasing an additional 18,703 shares during the period. Amdocs comprises approximately 1.6% of Valley Wealth Managers Inc.’s holdings, making the stock its 18th biggest holding. Valley Wealth Managers Inc. owned 0.22% of Amdocs worth $21,121,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Janus Henderson Group PLC grew its stake in Amdocs by 1.7% in the 3rd quarter. Janus Henderson Group PLC now owns 6,625,875 shares of the technology company’s stock worth $579,632,000 after acquiring an additional 111,357 shares during the period. Pzena Investment Management LLC grew its stake in Amdocs by 12.3% in the 3rd quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company’s stock worth $556,700,000 after acquiring an additional 696,136 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Amdocs by 2.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,263,591 shares of the technology company’s stock worth $274,681,000 after acquiring an additional 87,801 shares during the period. Wellington Management Group LLP grew its stake in Amdocs by 0.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,136,932 shares of the technology company’s stock worth $186,939,000 after acquiring an additional 16,580 shares during the period. Finally, Pacer Advisors Inc. grew its stake in Amdocs by 7.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock worth $154,587,000 after acquiring an additional 125,654 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Stock Up 1.2 %

Shares of DOX opened at $88.30 on Tuesday. The firm has a market cap of $9.97 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 1.41 and a beta of 0.71. The company’s fifty day moving average is $85.92 and its two-hundred day moving average is $86.49. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $94.04. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22.

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

Amdocs Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Investors of record on Monday, March 31st will be issued a dividend of $0.527 per share. This is a positive change from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 2.39%. Amdocs’s payout ratio is presently 44.55%.

Wall Street Analyst Weigh In

Several research firms have commented on DOX. Oppenheimer lifted their target price on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Barclays lowered their target price on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Finally, StockNews.com upgraded shares of Amdocs from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $101.20.

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.