Arrowstreet Capital Limited Partnership Increases Stake in Amdocs Limited (NASDAQ:DOX)

Arrowstreet Capital Limited Partnership grew its position in Amdocs Limited (NASDAQ:DOX) by 30.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 827,317 shares of the technology company’s stock after buying an additional 191,013 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.73% of Amdocs worth $70,438,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DOX. Jones Financial Companies Lllp purchased a new stake in shares of Amdocs during the fourth quarter valued at $36,000. SBI Securities Co. Ltd. purchased a new stake in shares of Amdocs during the 4th quarter valued at about $41,000. Global Retirement Partners LLC grew its stake in shares of Amdocs by 45.6% in the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock worth $48,000 after acquiring an additional 175 shares during the period. Private Trust Co. NA raised its holdings in shares of Amdocs by 121.5% during the fourth quarter. Private Trust Co. NA now owns 671 shares of the technology company’s stock valued at $57,000 after purchasing an additional 368 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Amdocs by 199.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 686 shares of the technology company’s stock valued at $59,000 after purchasing an additional 457 shares during the period. Institutional investors own 92.02% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Amdocs presently has an average rating of “Moderate Buy” and an average price target of $101.20.

Amdocs Stock Performance

Shares of NASDAQ DOX opened at $91.50 on Tuesday. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $93.34. The firm has a market capitalization of $10.33 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 1.47 and a beta of 0.68. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $88.02 and a 200 day moving average of $87.40.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. On average, research analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be given a dividend of $0.527 per share. This is a boost from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Monday, March 31st. Amdocs’s payout ratio is presently 48.72%.

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.