Amdocs Limited (NASDAQ:DOX) Shares Purchased by Norden Group LLC

Norden Group LLC grew its position in Amdocs Limited (NASDAQ:DOX) by 26.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,978 shares of the technology company’s stock after acquiring an additional 843 shares during the quarter. Norden Group LLC’s holdings in Amdocs were worth $364,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Amdocs by 16.1% during the 4th quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company’s stock worth $261,756,000 after acquiring an additional 426,035 shares during the period. Wellington Management Group LLP grew its position in Amdocs by 25.4% in the 4th quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company’s stock valued at $228,211,000 after buying an additional 543,490 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in Amdocs by 86.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company’s stock valued at $143,127,000 after buying an additional 781,061 shares during the period. Geode Capital Management LLC raised its position in shares of Amdocs by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 1,672,193 shares of the technology company’s stock worth $143,262,000 after buying an additional 38,460 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Amdocs by 32.8% in the 4th quarter. Russell Investments Group Ltd. now owns 979,861 shares of the technology company’s stock worth $83,426,000 after acquiring an additional 242,093 shares during the period. 92.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on DOX. Wall Street Zen raised Amdocs from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th. Wolfe Research began coverage on shares of Amdocs in a research report on Tuesday, July 8th. They issued an “outperform” rating on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Amdocs presently has an average rating of “Buy” and an average price target of $105.33.

Amdocs Stock Performance

NASDAQ:DOX opened at $86.12 on Thursday. The firm’s 50-day moving average is $90.93 and its 200-day moving average is $88.63. The company has a market cap of $9.72 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 1.43 and a beta of 0.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.16 and a current ratio of 1.16. Amdocs Limited has a 52-week low of $78.61 and a 52-week high of $95.41.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Wednesday, May 7th. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. Amdocs had a return on equity of 19.52% and a net margin of 11.39%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the business posted $1.56 earnings per share. Amdocs’s quarterly revenue was down 9.4% on a year-over-year basis. Equities research analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Monday, June 30th were issued a $0.527 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.45%. Amdocs’s dividend payout ratio is 44.42%.

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.