Wellington Management Group LLP Purchases 543,490 Shares of Amdocs Limited (NASDAQ:DOX)

Wellington Management Group LLP lifted its position in shares of Amdocs Limited (NASDAQ:DOX) by 25.4% during the 4th quarter, HoldingsChannel reports. The firm owned 2,680,422 shares of the technology company’s stock after acquiring an additional 543,490 shares during the period. Wellington Management Group LLP’s holdings in Amdocs were worth $228,211,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its holdings in shares of Amdocs by 8.3% during the 4th quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company’s stock valued at $141,112,000 after buying an additional 127,426 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Amdocs by 7.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock worth $154,587,000 after acquiring an additional 125,654 shares in the last quarter. Dudley & Shanley Inc. grew its holdings in Amdocs by 7.6% in the third quarter. Dudley & Shanley Inc. now owns 261,826 shares of the technology company’s stock worth $22,905,000 after purchasing an additional 18,600 shares during the period. Range Financial Group LLC bought a new position in shares of Amdocs during the fourth quarter valued at approximately $1,376,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Amdocs by 5.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 207,137 shares of the technology company’s stock valued at $18,120,000 after purchasing an additional 11,179 shares during the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $101.20.

Amdocs Price Performance

Shares of NASDAQ DOX opened at $91.12 on Thursday. The firm has a market cap of $10.29 billion, a P/E ratio of 21.14, a PEG ratio of 1.47 and a beta of 0.68. The company has a 50 day moving average of $88.24 and a 200 day moving average of $87.46. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $93.34. 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 (NASDAQ:DOX) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. As a group, research analysts expect that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be given a dividend of $0.527 per share. This is an increase from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 2.31%. Amdocs’s dividend payout ratio is 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.