BNP PARIBAS ASSET MANAGEMENT Holding S.A. Buys New Shares in Amdocs Limited (NASDAQ:DOX)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Amdocs Limited (NASDAQ:DOX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 15,094 shares of the technology company’s stock, valued at approximately $1,191,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pzena Investment Management LLC increased its holdings in shares of Amdocs by 0.4% during the 1st quarter. Pzena Investment Management LLC now owns 4,254,777 shares of the technology company’s stock worth $384,504,000 after buying an additional 15,264 shares during the last quarter. Vanguard Group Inc. increased its stake in Amdocs by 39.5% during the first quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock worth $183,771,000 after acquiring an additional 576,168 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Amdocs by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,007,777 shares of the technology company’s stock worth $176,464,000 after purchasing an additional 94,856 shares during the period. Brandes Investment Partners LP lifted its stake in shares of Amdocs by 22.1% in the 4th quarter. Brandes Investment Partners LP now owns 1,402,646 shares of the technology company’s stock valued at $123,279,000 after purchasing an additional 254,304 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Amdocs by 22.7% during the 1st quarter. Acadian Asset Management LLC now owns 1,395,894 shares of the technology company’s stock worth $126,119,000 after purchasing an additional 258,343 shares during the period. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Amdocs Stock Up 1.9 %

Shares of NASDAQ:DOX opened at $86.97 on Tuesday. The company has a market capitalization of $10.22 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 1.56 and a beta of 0.73. The company has a 50 day moving average of $82.77 and a two-hundred day moving average of $84.47. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $94.04. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.02. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.25 billion. Amdocs had a net margin of 10.21% and a return on equity of 17.89%. The business’s revenue was up 1.1% on a year-over-year basis. During the same period last year, the business earned $1.41 EPS. As a group, analysts forecast that Amdocs Limited will post 5.67 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 30th will be paid a $0.479 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Monday, September 30th. Amdocs’s dividend payout ratio (DPR) is 42.92%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. StockNews.com upgraded shares of Amdocs from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Citigroup cut their target price on shares of Amdocs from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, Robert W. Baird decreased their price target on shares of Amdocs from $97.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $102.50.

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.