Gateway Investment Advisers LLC Purchases 1,866 Shares of Amdocs Limited (NASDAQ:DOX)

Gateway Investment Advisers LLC lifted its position in Amdocs Limited (NASDAQ:DOX) by 64.1% during the 3rd quarter, Holdings Channel reports. The firm owned 4,779 shares of the technology company’s stock after acquiring an additional 1,866 shares during the period. Gateway Investment Advisers LLC’s holdings in Amdocs were worth $418,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DOX. Norwood Financial Corp purchased a new position in Amdocs during the first quarter valued at $33,000. Central Pacific Bank Trust Division purchased a new position in Amdocs during the first quarter valued at $53,000. Riverview Trust Co purchased a new position in Amdocs during the first quarter valued at $55,000. Quarry LP lifted its position in Amdocs by 168.9% during the fourth quarter. Quarry LP now owns 656 shares of the technology company’s stock valued at $58,000 after buying an additional 412 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Amdocs by 115.1% in the 3rd quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock worth $70,000 after purchasing an additional 428 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on DOX. StockNews.com upgraded Amdocs from a “buy” rating to a “strong-buy” rating in a report on Thursday. Stifel Nicolaus started coverage on Amdocs in a report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price target on the stock. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $102.00.

Amdocs Price Performance

DOX opened at $88.25 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $10.37 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 1.42 and a beta of 0.74. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $94.04. The business’s fifty day simple moving average is $85.70 and its 200-day simple moving average is $83.54.

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

Amdocs Announces Dividend

The firm 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. This represents a $1.92 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs’s payout ratio is currently 42.92%.

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.