Envestnet Asset Management Inc. Raises Holdings in Amdocs Limited (NASDAQ:DOX)

Envestnet Asset Management Inc. grew its stake in Amdocs Limited (NASDAQ:DOX) by 6.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 469,946 shares of the technology company’s stock after buying an additional 29,560 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Amdocs were worth $37,088,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in DOX. Norwood Financial Corp acquired a new position in Amdocs during the 1st quarter worth approximately $33,000. Central Pacific Bank Trust Division acquired a new position in shares of Amdocs during the first quarter worth $53,000. Riverview Trust Co purchased a new position in Amdocs in the first quarter valued at $55,000. Quarry LP lifted its holdings in Amdocs by 168.9% during the 4th quarter. Quarry LP now owns 656 shares of the technology company’s stock worth $58,000 after buying an additional 412 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of Amdocs during the 4th quarter worth about $63,000. 92.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com raised 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amdocs has an average rating of “Buy” and a consensus target price of $102.50.

Amdocs Price Performance

Shares of NASDAQ:DOX opened at $86.21 on Friday. 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. The firm has a market capitalization of $10.13 billion, a P/E ratio of 19.37, a P/E/G ratio of 1.52 and a beta of 0.74. The company’s fifty day moving average price is $84.84 and its 200 day moving average price is $84.07.

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

Amdocs Dividend Announcement

The firm 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 dividend of $0.479 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.22%. Amdocs’s dividend payout ratio (DPR) is presently 42.92%.

About Amdocs

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.