Summit Global Investments Takes Position in Amdocs Limited (NASDAQ:DOX)

Summit Global Investments purchased a new stake in shares of Amdocs Limited (NASDAQ:DOX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 21,300 shares of the technology company’s stock, valued at approximately $1,813,000.

Several other large investors have also recently modified their holdings of DOX. Pzena Investment Management LLC raised its stake in Amdocs by 4.3% during the fourth quarter. Pzena Investment Management LLC now owns 6,634,549 shares of the technology company’s stock worth $564,866,000 after buying an additional 270,810 shares during the last quarter. Janus Henderson Group PLC raised its stake in Amdocs by 1.7% during the third quarter. Janus Henderson Group PLC now owns 6,625,875 shares of the technology company’s stock worth $579,632,000 after buying an additional 111,357 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Amdocs by 2.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,263,591 shares of the technology company’s stock worth $274,681,000 after buying an additional 87,801 shares during the last quarter. Wellington Management Group LLP raised its stake in Amdocs by 0.8% during the third quarter. Wellington Management Group LLP now owns 2,136,932 shares of the technology company’s stock worth $186,939,000 after buying an additional 16,580 shares during the last quarter. Finally, Pacer Advisors Inc. raised 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 buying an additional 125,654 shares during the last quarter. Institutional investors own 92.02% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. One equities 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.20.

Amdocs Trading Down 0.1 %

NASDAQ:DOX opened at $88.27 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $9.96 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.47 and a beta of 0.68. The firm has a fifty day simple moving average of $87.21 and a two-hundred day simple moving average of $87.16. Amdocs Limited has a 12 month low of $74.41 and a 12 month high of $93.34.

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

Amdocs Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.527 per share. This is a boost from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Monday, March 31st. Amdocs’s dividend payout ratio (DPR) is currently 48.72%.

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.