AQR Capital Management LLC Has $61.70 Million Position in Amdocs Limited (NASDAQ:DOX)

AQR Capital Management LLC grew its holdings in Amdocs Limited (NASDAQ:DOX) by 3.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 789,894 shares of the technology company’s stock after buying an additional 26,608 shares during the quarter. AQR Capital Management LLC’s holdings in Amdocs were worth $61,699,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Norwood Financial Corp acquired a new position in Amdocs during the 1st quarter worth $33,000. Central Pacific Bank Trust Division acquired a new position in shares of Amdocs during the first quarter valued at $53,000. Riverview Trust Co bought a new position in Amdocs in the first quarter valued at about $55,000. Quarry LP boosted its holdings in Amdocs by 168.9% in the fourth quarter. Quarry LP now owns 656 shares of the technology company’s stock valued at $58,000 after acquiring an additional 412 shares during the last quarter. Finally, American National Bank acquired a new stake in Amdocs in the second quarter worth about $76,000. Institutional investors and hedge funds own 92.02% of the company’s stock.

Wall Street Analysts Forecast Growth

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 investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $102.50.

Amdocs Stock Performance

DOX stock opened at $87.83 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $94.04. The business’s fifty day moving average is $85.14 and its 200-day moving average is $83.91. The company has a market cap of $10.32 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 1.54 and a beta of 0.74.

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

Amdocs Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors 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 yield of 2.18%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs’s dividend 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.