Amdocs Limited (NASDAQ:DOX) Shares Bought by Sei Investments Co.

Sei Investments Co. lifted its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 8.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 570,001 shares of the technology company’s stock after buying an additional 44,633 shares during the period. Sei Investments Co.’s holdings in Amdocs were worth $44,983,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norwood Financial Corp purchased a new position in Amdocs in the 1st quarter worth approximately $33,000. Central Pacific Bank Trust Division acquired a new stake in Amdocs during the 1st quarter valued at $53,000. Riverview Trust Co purchased a new stake in Amdocs during the 1st quarter worth $55,000. Quarry LP boosted its position in Amdocs by 168.9% in the 4th 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 last quarter. Finally, American National Bank acquired a new stake in shares of Amdocs during the second quarter valued at about $76,000. Institutional investors and hedge funds own 92.02% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. One research 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’s stock. Based on data from MarketBeat.com, Amdocs presently has an average rating of “Buy” and an average target price of $102.50.

Amdocs Trading Down 1.2 %

NASDAQ DOX opened at $86.21 on Monday. The company has a market capitalization of $10.13 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 1.52 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. The company’s fifty day moving average price is $84.84 and its two-hundred day moving average price is $83.97.

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

Amdocs Announces Dividend

The company 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. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.92 annualized dividend and a dividend yield of 2.22%. Amdocs’s payout ratio is 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.