Envestnet Asset Management Inc. Raises Stake in Amdocs Limited (NASDAQ:DOX)

Envestnet Asset Management Inc. lifted its stake in shares of Amdocs Limited (NASDAQ:DOX) by 6.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 469,946 shares of the technology company’s stock after acquiring an additional 29,560 shares during the period. Envestnet Asset Management Inc. owned 0.40% of Amdocs worth $37,088,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $15,069,000 after purchasing an additional 5,211 shares during the last quarter. Principal Securities Inc. purchased a new position in Amdocs in the fourth quarter worth approximately $63,000. Vanguard Personalized Indexing Management LLC grew its position in Amdocs by 22.2% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 5,664 shares of the technology company’s stock worth $498,000 after acquiring an additional 1,029 shares during the period. Beacon Pointe Advisors LLC purchased a new stake in Amdocs in the fourth quarter valued at $200,000. Finally, Norges Bank purchased a new stake in Amdocs in the fourth quarter valued at $119,694,000. Institutional investors and hedge funds own 92.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 13th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $102.50.

Amdocs Stock Down 1.2 %

NASDAQ:DOX opened at $86.21 on Friday. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The stock’s fifty day moving average is $84.84 and its two-hundred day moving average is $84.07. The stock has a market capitalization of $10.13 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 1.52 and a beta of 0.74. 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 announced its earnings results on Wednesday, August 7th. The technology company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.02. The company had revenue of $1.25 billion during 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%. Amdocs’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the business posted $1.41 EPS. Research analysts anticipate that Amdocs Limited will post 5.67 EPS for the current year.

Amdocs Dividend Announcement

The firm 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 dividend of $0.479 per share. The ex-dividend date is Monday, September 30th. This represents a $1.92 dividend on an annualized basis and a yield of 2.22%. Amdocs’s dividend payout ratio (DPR) is presently 42.92%.

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.