Northwestern Mutual Wealth Management Co. Grows Position in Amdocs Limited (NASDAQ:DOX)

Northwestern Mutual Wealth Management Co. boosted its holdings in Amdocs Limited (NASDAQ:DOX) by 24.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,215 shares of the technology company’s stock after buying an additional 440 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Amdocs were worth $175,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norwood Financial Corp bought a new stake in shares of Amdocs in the first quarter worth $33,000. Central Pacific Bank Trust Division purchased a new stake in shares of Amdocs during the 1st quarter valued at about $53,000. Riverview Trust Co purchased a new position in shares of Amdocs in the first quarter worth approximately $55,000. Quarry LP grew 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, American National Bank purchased a new stake in Amdocs during the second quarter valued at approximately $76,000. Institutional investors own 92.02% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Stifel Nicolaus began coverage on Amdocs in a report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price target for the company. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $102.00.

Amdocs Trading Down 0.4 %

Shares of Amdocs stock opened at $87.79 on Friday. The company has a market capitalization of $10.32 billion, a P/E ratio of 19.73, a P/E/G ratio of 1.54 and a beta of 0.74. 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 company has a fifty day moving average of $85.64 and a 200 day moving average of $83.60. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $94.04.

Amdocs (NASDAQ:DOX) last issued its earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.02. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates 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 in the prior year, the business earned $1.41 earnings per share. On average, sell-side analysts anticipate that Amdocs Limited will post 5.67 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a yield of 2.18%. The ex-dividend date is Monday, September 30th. Amdocs’s dividend payout ratio is presently 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.