Paradigm Asset Management Co. LLC Takes $1.14 Million Position in Amdocs Limited (NASDAQ:DOX)

Paradigm Asset Management Co. LLC purchased a new stake in shares of Amdocs Limited (NASDAQ:DOX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 13,400 shares of the technology company’s stock, valued at approximately $1,141,000.

Several other institutional investors have also made changes to their positions in DOX. Janus Henderson Group PLC lifted its holdings 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 purchasing an additional 111,357 shares during the last quarter. Pzena Investment Management LLC lifted its holdings 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 purchasing an additional 696,136 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings 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 purchasing an additional 87,801 shares during the last quarter. Wellington Management Group LLP lifted its holdings 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 purchasing an additional 16,580 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings 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 purchasing an additional 125,654 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on DOX. Oppenheimer lifted their price target on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Barclays cut their price target on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $101.20.

Amdocs Trading Down 0.3 %

Shares of DOX opened at $89.33 on Friday. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $94.04. The business’s fifty day moving average is $86.06 and its 200-day moving average is $86.56. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. The firm has a market cap of $10.08 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 1.48 and a beta of 0.71.

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

Amdocs Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Investors of record on Monday, March 31st will be paid a $0.527 dividend. This is an increase 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 yield of 2.36%. Amdocs’s dividend payout ratio is presently 44.55%.

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.