New York State Teachers Retirement System Takes Position in Amdocs Limited (NASDAQ:DOX)

New York State Teachers Retirement System bought a new stake in Amdocs Limited (NASDAQ:DOX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,578 shares of the technology company’s stock, valued at approximately $930,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Operose Advisors LLC grew its position in Amdocs by 148.0% during the third quarter. Operose Advisors LLC now owns 310 shares of the technology company’s stock worth $26,000 after buying an additional 185 shares in the last quarter. VisionPoint Advisory Group LLC grew its position in Amdocs by 77.7% during the third quarter. VisionPoint Advisory Group LLC now owns 503 shares of the technology company’s stock worth $42,000 after buying an additional 220 shares in the last quarter. Allworth Financial LP grew its position in Amdocs by 16,840.0% during the third quarter. Allworth Financial LP now owns 847 shares of the technology company’s stock worth $72,000 after buying an additional 842 shares in the last quarter. GeoWealth Management LLC acquired a new stake in Amdocs during the first quarter worth approximately $80,000. Finally, Zions Bancorporation N.A. acquired a new stake in Amdocs during the first quarter worth approximately $83,000. Institutional investors and hedge funds own 92.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Citigroup upped their target price on Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Barclays upped their target price on Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Finally, StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 15th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $108.60.

Amdocs Stock Up 0.2 %

NASDAQ DOX opened at $85.11 on Friday. The business has a fifty day moving average price of $90.10 and a two-hundred day moving average price of $87.23. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.29 and a quick ratio of 1.29. Amdocs Limited has a fifty-two week low of $78.38 and a fifty-two week high of $99.75. The stock has a market capitalization of $10.00 billion, a PE ratio of 18.22, a PEG ratio of 1.38 and a beta of 0.69.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.16. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the company earned $1.33 EPS. Amdocs’s revenue was up 5.0% compared to the same quarter last year. Equities analysts expect that Amdocs Limited will post 5.87 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, March 29th will be paid a $0.479 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.25%. This is a boost from Amdocs’s previous quarterly dividend of $0.44. The ex-dividend date is Wednesday, March 27th. Amdocs’s dividend payout ratio is presently 40.90%.

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.