Los Angeles Capital Management LLC Buys 345 Shares of Amdocs Limited (NASDAQ:DOX)

Los Angeles Capital Management LLC increased its stake in shares of Amdocs Limited (NASDAQ:DOX) by 11.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,247 shares of the technology company’s stock after purchasing an additional 345 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Amdocs were worth $256,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of DOX. Private Advisor Group LLC increased its position in shares of Amdocs by 58.7% during the 4th quarter. Private Advisor Group LLC now owns 5,491 shares of the technology company’s stock valued at $483,000 after purchasing an additional 2,031 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Amdocs by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 171,456 shares of the technology company’s stock valued at $15,069,000 after purchasing an additional 5,211 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Amdocs during the 4th quarter valued at approximately $63,000. Avantax Advisory Services Inc. boosted its holdings in Amdocs by 13.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 6,815 shares of the technology company’s stock valued at $599,000 after acquiring an additional 799 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Amdocs by 22.2% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 5,664 shares of the technology company’s stock valued at $498,000 after acquiring an additional 1,029 shares during the period. Institutional investors own 92.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Amdocs from a “buy” rating to a “strong-buy” rating in a report on Friday. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $102.50.

Amdocs Price Performance

Shares of DOX stock opened at $86.49 on Monday. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $94.04. The stock has a market capitalization of $10.17 billion, a price-to-earnings ratio of 19.44, a P/E/G ratio of 1.52 and a beta of 0.74. The stock has a fifty day simple moving average of $84.08 and a two-hundred day simple moving average of $84.14. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21.

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 the consensus estimate of $1.60 by $0.02. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the business earned $1.41 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts predict that Amdocs Limited will post 5.67 EPS for the current fiscal year.

Amdocs Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be issued a $0.479 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs’s dividend payout ratio is 43.15%.

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.