B. Riley Wealth Advisors Inc. Invests $244,000 in Amdocs Limited (NASDAQ:DOX)

B. Riley Wealth Advisors Inc. acquired a new position in Amdocs Limited (NASDAQ:DOX) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 2,766 shares of the technology company’s stock, valued at approximately $244,000.

Other institutional investors have also made changes to their positions in the company. Hsbc Holdings PLC increased its stake in Amdocs by 91.8% during the third quarter. Hsbc Holdings PLC now owns 36,404 shares of the technology company’s stock valued at $3,097,000 after acquiring an additional 17,424 shares during the period. Dark Forest Capital Management LP bought a new position in Amdocs during the third quarter valued at about $513,000. LPL Financial LLC increased its stake in Amdocs by 20.1% during the third quarter. LPL Financial LLC now owns 62,043 shares of the technology company’s stock valued at $5,242,000 after acquiring an additional 10,372 shares during the period. Mariner LLC boosted its holdings in Amdocs by 15.5% during the third quarter. Mariner LLC now owns 17,091 shares of the technology company’s stock valued at $1,444,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Federated Hermes Inc. acquired a new stake in Amdocs during the third quarter valued at approximately $356,000. 92.02% of the stock is currently owned by institutional investors.

Amdocs Stock Up 0.0 %

Shares of DOX opened at $78.35 on Friday. The company has a market capitalization of $9.21 billion, a P/E ratio of 17.61, a PEG ratio of 1.38 and a beta of 0.74. 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 Limited has a one year low of $74.41 and a one year high of $99.75. The business’s 50 day simple moving average is $80.69 and its 200-day simple moving average is $86.70.

Amdocs (NASDAQ:DOX) last announced its earnings results on Wednesday, May 8th. The technology company reported $1.38 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.05). The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.25 billion. Amdocs had a return on equity of 17.85% and a net margin of 10.62%. As a group, sell-side analysts predict that Amdocs Limited will post 5.72 EPS for the current fiscal year.

Amdocs Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be issued a $0.479 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, June 28th. Amdocs’s payout ratio is currently 43.15%.

Wall Street Analyst Weigh In

DOX has been the topic of a number of recent research reports. Robert W. Baird decreased their price objective on Amdocs from $97.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Citigroup decreased their price objective on Amdocs from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Amdocs currently has a consensus rating of “Moderate Buy” and an average target price of $103.80.

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.