Cerity Partners LLC Acquires New Holdings in Amdocs Limited (NASDAQ:DOX)

Cerity Partners LLC bought a new position in shares of Amdocs Limited (NASDAQ:DOX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,475 shares of the technology company’s stock, valued at approximately $393,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Operose Advisors LLC increased its stake in shares of Amdocs by 148.0% in the third quarter. Operose Advisors LLC now owns 310 shares of the technology company’s stock valued at $26,000 after buying an additional 185 shares during the period. VisionPoint Advisory Group LLC increased its position in Amdocs by 77.7% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 503 shares of the technology company’s stock valued at $42,000 after acquiring an additional 220 shares during the period. Allworth Financial LP raised its stake in shares of Amdocs by 16,840.0% during the third quarter. Allworth Financial LP now owns 847 shares of the technology company’s stock valued at $72,000 after acquiring an additional 842 shares during the last quarter. Quent Capital LLC lifted its holdings in shares of Amdocs by 27.3% during the fourth quarter. Quent Capital LLC now owns 1,148 shares of the technology company’s stock worth $101,000 after purchasing an additional 246 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Amdocs by 17.9% in the fourth quarter. Blue Trust Inc. now owns 1,418 shares of the technology company’s stock worth $119,000 after purchasing an additional 215 shares during the last quarter. Institutional investors own 92.02% of the company’s stock.

Analyst Ratings Changes

DOX has been the subject of several analyst reports. Citigroup raised their target price on Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Barclays raised their price objective on Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Finally, StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $108.60.

Amdocs Stock Down 0.8 %

Shares of NASDAQ:DOX opened at $84.98 on Friday. The business’s 50-day moving average is $89.62 and its 200-day moving average is $87.32. Amdocs Limited has a 1 year low of $78.38 and a 1 year high of $99.75. The company has a market capitalization of $9.99 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 1.41 and a beta of 0.69. 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 (NASDAQ:DOX) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.16. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.24 billion. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.33 earnings per share. Equities research analysts predict that Amdocs Limited will post 5.87 earnings per share for the current year.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, March 29th were paid a $0.479 dividend. This is an increase from Amdocs’s previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a yield of 2.25%. The ex-dividend date was Wednesday, March 27th. Amdocs’s payout ratio is 41.11%.

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.