PNC Financial Services Group Inc. Has $480,000 Stake in Amdocs Limited (NASDAQ:DOX)

PNC Financial Services Group Inc. grew its position in Amdocs Limited (NASDAQ:DOX) by 3.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,247 shares of the technology company’s stock after buying an additional 177 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Amdocs were worth $480,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cornerstone Planning Group LLC acquired a new stake in Amdocs in the first quarter valued at about $27,000. AdvisorNet Financial Inc lifted its holdings in shares of Amdocs by 382.9% in the first quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company’s stock worth $31,000 after acquiring an additional 268 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of Amdocs in the 1st quarter valued at approximately $31,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Amdocs in the 1st quarter valued at approximately $39,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Amdocs by 55.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company’s stock valued at $50,000 after purchasing an additional 208 shares during the last quarter. Institutional investors own 92.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DOX. Wall Street Zen raised shares of Amdocs from a “hold” rating to a “buy” rating in a research note on Sunday. Wolfe Research started coverage on shares of Amdocs in a report on Tuesday, July 8th. They set an “outperform” rating for the company. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $105.33.

Amdocs Stock Performance

NASDAQ:DOX opened at $88.60 on Thursday. The stock’s 50-day moving average is $89.89 and its 200-day moving average is $88.76. Amdocs Limited has a 1-year low of $78.61 and a 1-year high of $95.41. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock has a market cap of $10.00 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 1.59 and a beta of 0.51.

Amdocs (NASDAQ:DOX) last posted its earnings results on Wednesday, August 6th. The technology company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.71 by $0.01. Amdocs had a net margin of 11.94% and a return on equity of 19.66%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the company earned $1.62 EPS. The firm’s revenue was down 8.4% compared to the same quarter last year. Equities research analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Tuesday, September 30th. Amdocs’s dividend payout ratio is presently 42.80%.

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.