Edgestream Partners L.P. Purchases Shares of 19,535 Amdocs Limited (NASDAQ:DOX)

Edgestream Partners L.P. acquired a new position in Amdocs Limited (NASDAQ:DOX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 19,535 shares of the technology company’s stock, valued at approximately $1,542,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in Amdocs by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 171,456 shares of the technology company’s stock worth $15,069,000 after purchasing an additional 5,211 shares during the period. Principal Securities Inc. purchased a new position in shares of Amdocs in the fourth quarter worth $63,000. Vanguard Personalized Indexing Management LLC raised 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 buying an additional 1,029 shares during the last quarter. Beacon Pointe Advisors LLC purchased a new stake in Amdocs during the 4th quarter valued at $200,000. Finally, Norges Bank bought a new stake in Amdocs in the 4th quarter worth $119,694,000. Institutional investors own 92.02% of the company’s stock.

Amdocs Price Performance

Shares of Amdocs stock opened at $87.29 on Friday. The company has a market cap of $10.26 billion, a PE ratio of 19.62, a P/E/G ratio of 1.52 and a beta of 0.74. The business has a 50 day moving average of $84.73 and a 200 day moving average of $84.11. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. 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 (NASDAQ:DOX) last posted its 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. Amdocs had a net margin of 10.21% and a return on equity of 17.89%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the company posted $1.41 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that Amdocs Limited will post 5.67 earnings per share for the current year.

Amdocs Dividend Announcement

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. This represents a $1.92 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Monday, September 30th. Amdocs’s dividend payout ratio is currently 42.92%.

Analyst Ratings Changes

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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Amdocs has a consensus rating of “Buy” and a consensus price target of $102.50.

Amdocs 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.