Illinois Municipal Retirement Fund Has $10.84 Million Stake in Amdocs Limited (NASDAQ:DOX)

Illinois Municipal Retirement Fund boosted its stake in Amdocs Limited (NASDAQ:DOX) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,278 shares of the technology company’s stock after purchasing an additional 4,982 shares during the period. Illinois Municipal Retirement Fund’s holdings in Amdocs were worth $10,835,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oakworth Capital Inc. acquired a new stake in Amdocs in the fourth quarter valued at $26,000. Operose Advisors LLC increased its holdings in 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 purchasing an additional 185 shares during the period. VisionPoint Advisory Group LLC increased its holdings in Amdocs by 77.7% in the third quarter. VisionPoint Advisory Group LLC now owns 503 shares of the technology company’s stock valued at $42,000 after purchasing an additional 220 shares during the period. Allworth Financial LP increased its holdings in Amdocs by 16,840.0% in the third quarter. Allworth Financial LP now owns 847 shares of the technology company’s stock valued at $72,000 after purchasing an additional 842 shares during the period. Finally, Quent Capital LLC increased its holdings in Amdocs by 27.3% in the fourth quarter. Quent Capital LLC now owns 1,148 shares of the technology company’s stock valued at $101,000 after purchasing an additional 246 shares during the period. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Stock Up 0.5 %

NASDAQ DOX traded up $0.40 during trading hours on Tuesday, hitting $86.71. The company’s stock had a trading volume of 122,910 shares, compared to its average volume of 650,214. Amdocs Limited has a 52 week low of $78.38 and a 52 week high of $99.75. The company has a market capitalization of $10.19 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 1.40 and a beta of 0.69. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.21. The company’s 50-day simple moving average is $89.96 and its two-hundred day simple moving average is $87.31.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.16. Amdocs had a net margin of 11.30% and a return on equity of 17.79%. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter last year, the firm earned $1.33 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. Research analysts anticipate that Amdocs Limited will post 5.87 EPS for the current fiscal year.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.479 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.92 annualized dividend and a dividend yield of 2.21%. This is a positive change from Amdocs’s previous quarterly dividend of $0.44. Amdocs’s dividend payout ratio (DPR) is presently 41.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DOX. Citigroup increased their price target on Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. Finally, Barclays increased their price target on Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $108.60.

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.