AE Wealth Management LLC Buys Shares of 2,707 Amdocs Limited (NASDAQ:DOX)

AE Wealth Management LLC purchased a new position in Amdocs Limited (NASDAQ:DOX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,707 shares of the technology company’s stock, valued at approximately $214,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Natixis Advisors LLC grew its stake in Amdocs by 0.4% in the 2nd quarter. Natixis Advisors LLC now owns 27,246 shares of the technology company’s stock worth $2,150,000 after acquiring an additional 120 shares during the period. Raymond James Trust N.A. increased its stake in Amdocs by 2.3% in the second quarter. Raymond James Trust N.A. now owns 5,796 shares of the technology company’s stock valued at $457,000 after purchasing an additional 129 shares during the last quarter. Y.D. More Investments Ltd lifted its position in Amdocs by 1.5% during the second quarter. Y.D. More Investments Ltd now owns 9,389 shares of the technology company’s stock worth $741,000 after buying an additional 139 shares during the period. New York State Teachers Retirement System boosted its stake in Amdocs by 1.3% in the 1st quarter. New York State Teachers Retirement System now owns 10,719 shares of the technology company’s stock worth $969,000 after buying an additional 141 shares during the last quarter. Finally, First Affirmative Financial Network grew its holdings in Amdocs by 5.4% in the 1st quarter. First Affirmative Financial Network now owns 3,085 shares of the technology company’s stock valued at $279,000 after buying an additional 157 shares during the period. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 13th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $102.50.

Amdocs Stock Performance

Shares of NASDAQ:DOX opened at $87.83 on Friday. The business has a 50-day moving average of $85.24 and a two-hundred day moving average of $83.88. The firm has a market capitalization of $10.32 billion, a PE ratio of 19.74, a P/E/G ratio of 1.54 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 Limited has a 12 month low of $74.41 and a 12 month high of $94.04.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.62 EPS for the quarter, beating the consensus estimate 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 quarter last year, the firm posted $1.41 earnings per share. Amdocs’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, research analysts forecast that Amdocs Limited will post 5.67 earnings per share for the current year.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be given a $0.479 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs’s payout ratio is 42.92%.

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.