DigitalBridge Group Inc. Purchases 62,477 Shares of Amdocs Limited (NASDAQ:DOX)

DigitalBridge Group Inc. increased its position in Amdocs Limited (NASDAQ:DOX) by 11.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 605,772 shares of the technology company’s stock after purchasing an additional 62,477 shares during the period. Amdocs comprises about 4.1% of DigitalBridge Group Inc.’s investment portfolio, making the stock its 5th biggest holding. DigitalBridge Group Inc. owned 0.52% of Amdocs worth $47,808,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DOX. Natixis Advisors LLC increased its holdings in shares of Amdocs by 0.4% in the 2nd quarter. Natixis Advisors LLC now owns 27,246 shares of the technology company’s stock valued at $2,150,000 after purchasing an additional 120 shares during the period. Raymond James Trust N.A. grew its position in Amdocs by 2.3% during 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 in the last quarter. Y.D. More Investments Ltd increased its stake in Amdocs by 1.5% in the 2nd quarter. Y.D. More Investments Ltd now owns 9,389 shares of the technology company’s stock valued at $741,000 after buying an additional 139 shares during the period. New York State Teachers Retirement System lifted its position 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 in the last quarter. Finally, First Affirmative Financial Network boosted its stake in shares of Amdocs by 5.4% during 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. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Price Performance

Shares of DOX opened at $85.90 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $10.10 billion, a PE ratio of 19.30, a PEG ratio of 1.54 and a beta of 0.74. The firm’s 50 day moving average price is $85.07 and its 200 day moving average price is $83.89. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $94.04.

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

Amdocs Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs’s dividend payout ratio is 42.92%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average 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.