Arrowstreet Capital Limited Partnership Grows Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Arrowstreet Capital Limited Partnership boosted its holdings in Amdocs Limited (NASDAQ:DOX) by 30.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 827,317 shares of the technology company’s stock after buying an additional 191,013 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Amdocs were worth $70,438,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Axxcess Wealth Management LLC boosted its position in shares of Amdocs by 5.4% during the fourth quarter. Axxcess Wealth Management LLC now owns 2,431 shares of the technology company’s stock worth $207,000 after acquiring an additional 124 shares during the last quarter. Principal Securities Inc. boosted its holdings in shares of Amdocs by 10.4% during the 4th quarter. Principal Securities Inc. now owns 1,341 shares of the technology company’s stock valued at $114,000 after purchasing an additional 126 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of Amdocs by 45.6% during the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock valued at $48,000 after purchasing an additional 175 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Amdocs by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,621 shares of the technology company’s stock valued at $308,000 after purchasing an additional 180 shares in the last quarter. Finally, KFG Wealth Management LLC lifted its position in shares of Amdocs by 8.2% in the fourth quarter. KFG Wealth Management LLC now owns 2,496 shares of the technology company’s stock worth $213,000 after buying an additional 189 shares in the last quarter. 92.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.20.

Amdocs Stock Performance

Amdocs stock opened at $91.50 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $93.34. The company’s 50-day moving average price is $88.02 and its 200-day moving average price is $87.40. The company has a market cap of $10.33 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 1.47 and a beta of 0.68.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. On average, equities research analysts forecast that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a yield of 2.30%. This is a positive change from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, March 31st. Amdocs’s payout ratio is presently 48.72%.

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.