Wellington Management Group LLP Buys 543,490 Shares of Amdocs Limited (NASDAQ:DOX)

Wellington Management Group LLP raised its stake in shares of Amdocs Limited (NASDAQ:DOX) by 25.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,680,422 shares of the technology company’s stock after purchasing an additional 543,490 shares during the quarter. Wellington Management Group LLP owned 2.37% of Amdocs worth $228,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of DOX. Nordea Investment Management AB increased its position in shares of Amdocs by 8.3% during the 4th quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company’s stock valued at $141,112,000 after purchasing an additional 127,426 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Amdocs by 7.4% during the fourth 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 in the last quarter. Dudley & Shanley Inc. lifted its holdings in shares of Amdocs by 7.6% in the 3rd quarter. Dudley & Shanley Inc. now owns 261,826 shares of the technology company’s stock worth $22,905,000 after acquiring an additional 18,600 shares during the last quarter. Range Financial Group LLC purchased a new stake in shares of Amdocs in the 4th quarter valued at $1,376,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Amdocs by 5.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 207,137 shares of the technology company’s stock valued at $18,120,000 after purchasing an additional 11,179 shares during the last quarter. Hedge funds and other 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 note on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $101.20.

Amdocs Trading Up 0.1 %

Shares of DOX opened at $91.12 on Thursday. The stock has a market capitalization of $10.29 billion, a P/E ratio of 21.14, a PEG ratio of 1.47 and a beta of 0.68. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $93.34. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. The firm has a fifty day simple moving average of $88.24 and a two-hundred day simple moving average of $87.46.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results 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 EPS for the current year.

Amdocs Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be given a dividend of $0.527 per share. This is an increase from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Monday, March 31st. Amdocs’s payout ratio is presently 48.72%.

Amdocs 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.