Amdocs Limited (NASDAQ:DOX) Shares Purchased by LSV Asset Management

LSV Asset Management increased its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 7.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,207,155 shares of the technology company’s stock after purchasing an additional 234,096 shares during the quarter. LSV Asset Management’s holdings in Amdocs were worth $253,109,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norwood Financial Corp acquired a new stake in shares of Amdocs during the 1st quarter worth about $33,000. Central Pacific Bank Trust Division acquired a new position in Amdocs in the 1st quarter valued at about $53,000. Riverview Trust Co acquired a new position in Amdocs in the 1st quarter valued at about $55,000. Quarry LP grew its position in Amdocs by 168.9% in the 4th quarter. Quarry LP now owns 656 shares of the technology company’s stock valued at $58,000 after acquiring an additional 412 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in Amdocs in the 4th quarter valued at about $63,000. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Trading Down 0.9 %

NASDAQ DOX traded down $0.76 during trading on Friday, hitting $84.91. The stock had a trading volume of 371,691 shares, compared to its average volume of 692,601. The company has a market capitalization of $9.98 billion, a PE ratio of 19.08, a PEG ratio of 1.56 and a beta of 0.74. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average price of $83.38 and a 200 day moving average price of $84.42. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $94.04.

Amdocs (NASDAQ:DOX) last released its earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.02. Amdocs had a net margin of 10.21% and a return on equity of 17.89%. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the firm earned $1.41 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that Amdocs Limited will post 5.67 earnings per share for the current year.

Amdocs Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 30th will be paid a dividend of $0.479 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.26%. Amdocs’s payout ratio is 42.92%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.50.

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.