Lecap Asset Management Ltd. Increases Position in Amdocs Limited (NASDAQ:DOX)

Lecap Asset Management Ltd. lifted its position in shares of Amdocs Limited (NASDAQ:DOX) by 9.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,640 shares of the technology company’s stock after buying an additional 1,638 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Amdocs were worth $1,471,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in Amdocs during the 4th quarter valued at approximately $119,694,000. Vanguard Group Inc. increased its holdings in Amdocs by 39.5% in the 1st quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock valued at $183,771,000 after acquiring an additional 576,168 shares during the last quarter. Seizert Capital Partners LLC purchased a new stake in Amdocs in the 4th quarter worth $28,059,000. Acadian Asset Management LLC boosted its holdings in shares of Amdocs by 22.7% during the 1st quarter. Acadian Asset Management LLC now owns 1,395,894 shares of the technology company’s stock valued at $126,119,000 after purchasing an additional 258,343 shares during the last quarter. Finally, Brandes Investment Partners LP grew its position in shares of Amdocs by 22.1% during the fourth quarter. Brandes Investment Partners LP now owns 1,402,646 shares of the technology company’s stock valued at $123,279,000 after purchasing an additional 254,304 shares in the last quarter. Institutional investors own 92.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Citigroup lowered their price objective on shares of Amdocs from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Robert W. Baird lowered their price target on shares of Amdocs from $97.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Finally, StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $102.50.

Amdocs Stock Performance

Amdocs stock traded up $1.42 during mid-day trading on Wednesday, reaching $85.64. 569,318 shares of the company traded hands, compared to its average volume of 707,799. The firm’s fifty day moving average is $81.36 and its two-hundred day moving average is $84.78. The company has a market capitalization of $10.07 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $94.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.32 and a quick ratio of 1.32.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.02. Amdocs had a return on equity of 17.85% and a net margin of 10.62%. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the business earned $1.41 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts expect that Amdocs Limited will post 5.72 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 30th will be given a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a yield of 2.24%. The ex-dividend date is Monday, September 30th. Amdocs’s dividend payout ratio is currently 42.92%.

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.