Amdocs Limited (NASDAQ:DOX) Holdings Boosted by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its position in shares of Amdocs Limited (NASDAQ:DOX) by 32.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 71,351 shares of the technology company’s stock after purchasing an additional 17,447 shares during the period. Mackenzie Financial Corp’s holdings in Amdocs were worth $6,271,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financiere des Professionnels Fonds d investissement inc. grew its holdings in shares of Amdocs by 1.3% during the 4th quarter. Financiere des Professionnels Fonds d investissement inc. now owns 9,790 shares of the technology company’s stock valued at $860,000 after acquiring an additional 130 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in Amdocs by 6.3% in the third quarter. First Eagle Investment Management LLC now owns 2,448 shares of the technology company’s stock worth $207,000 after purchasing an additional 145 shares in the last quarter. CI Investments Inc. boosted its holdings in Amdocs by 0.7% in the third quarter. CI Investments Inc. now owns 21,000 shares of the technology company’s stock worth $1,774,000 after purchasing an additional 152 shares in the last quarter. Balentine LLC boosted its holdings in Amdocs by 5.3% in the third quarter. Balentine LLC now owns 3,050 shares of the technology company’s stock worth $258,000 after purchasing an additional 153 shares in the last quarter. Finally, PFG Advisors boosted its holdings in Amdocs by 4.8% in the third quarter. PFG Advisors now owns 3,402 shares of the technology company’s stock worth $287,000 after purchasing an additional 155 shares in the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Amdocs Stock Up 1.2 %

Amdocs stock opened at $86.13 on Friday. The firm has a market cap of $10.12 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 1.38 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 Limited has a fifty-two week low of $78.38 and a fifty-two week high of $99.75. The firm has a fifty day moving average price of $90.03 and a two-hundred day moving average price of $87.27.

Amdocs (NASDAQ:DOX) last released its earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.16. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.24 billion. Amdocs had a net margin of 11.30% and a return on equity of 17.79%. The business’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.33 EPS. As a group, analysts forecast that Amdocs Limited will post 5.87 earnings per share for the current year.

Amdocs Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, March 29th will be given a dividend of $0.479 per share. This is a positive change from Amdocs’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.92 dividend on an annualized basis and a yield of 2.22%. Amdocs’s payout ratio is currently 41.11%.

About Amdocs

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.