Illinois Municipal Retirement Fund Purchases 31,137 Shares of Amdocs Limited (NASDAQ:DOX)

Illinois Municipal Retirement Fund increased its position in shares of Amdocs Limited (NASDAQ:DOX) by 25.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 154,666 shares of the technology company’s stock after purchasing an additional 31,137 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.13% of Amdocs worth $12,206,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DOX. Natixis Advisors L.P. acquired a new stake in shares of Amdocs in the fourth quarter valued at $2,357,000. Private Advisor Group LLC grew its stake in shares of Amdocs by 58.7% during the fourth quarter. Private Advisor Group LLC now owns 5,491 shares of the technology company’s stock valued at $483,000 after purchasing an additional 2,031 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Amdocs by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 171,456 shares of the technology company’s stock valued at $15,069,000 after buying an additional 5,211 shares during the period. Principal Securities Inc. acquired a new stake in Amdocs in the fourth quarter worth about $63,000. Finally, BNP Paribas Financial Markets grew its position in shares of Amdocs by 44.7% during the 4th quarter. BNP Paribas Financial Markets now owns 192,958 shares of the technology company’s stock worth $16,959,000 after buying an additional 59,639 shares during the period. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Stock Performance

Shares of DOX stock opened at $84.91 on Friday. The company has a fifty day moving average price of $83.38 and a two-hundred day moving average price of $84.42. Amdocs Limited has a one year low of $74.41 and a one year high of $94.04. The stock has a market cap of $9.98 billion, a P/E ratio of 19.08, a P/E/G ratio of 1.56 and a beta of 0.74. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.24 and a quick ratio of 1.24.

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

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be issued a $0.479 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.92 annualized dividend and a dividend yield of 2.26%. Amdocs’s dividend payout ratio is currently 42.92%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday. One investment 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 has an average rating of “Moderate Buy” and a consensus target price of $102.50.

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.