B. Riley Wealth Advisors Inc. Invests $268,000 in Amdocs Limited (NASDAQ:DOX)

B. Riley Wealth Advisors Inc. purchased a new stake in Amdocs Limited (NASDAQ:DOX) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,380 shares of the technology company’s stock, valued at approximately $268,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DOX. Pzena Investment Management LLC increased its position in Amdocs by 33.2% during the second quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock valued at $447,287,000 after acquiring an additional 1,412,826 shares during the last quarter. LSV Asset Management grew its position in Amdocs by 7.9% in the 2nd quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock valued at $253,109,000 after acquiring an additional 234,096 shares during the last quarter. Vanguard Group Inc. increased its stake in Amdocs by 39.5% in the first quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock worth $183,771,000 after purchasing an additional 576,168 shares during the period. American Century Companies Inc. lifted its position in shares of Amdocs by 7.9% during the second quarter. American Century Companies Inc. now owns 1,991,086 shares of the technology company’s stock worth $157,137,000 after purchasing an additional 145,757 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Amdocs by 36.2% during the second quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company’s stock worth $132,253,000 after purchasing an additional 444,966 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Analysts Set New Price Targets

DOX has been the topic of several recent analyst reports. StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus began coverage on shares of Amdocs in a research report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Amdocs has an average rating of “Moderate Buy” and an average price target of $102.00.

Amdocs Trading Up 0.1 %

NASDAQ DOX opened at $87.36 on Wednesday. Amdocs Limited has a one year low of $74.41 and a one year high of $94.04. 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 market capitalization of $10.27 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 1.54 and a beta of 0.74. The company’s 50-day simple moving average is $85.60 and its two-hundred day simple moving average is $83.54.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.02. The company had revenue of $1.25 billion for 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 was up 1.1% compared to the same quarter last year. During the same period last year, the company posted $1.41 earnings per share. Equities analysts forecast that Amdocs Limited will post 5.67 EPS for the current fiscal year.

Amdocs Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 30th will be given a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Monday, September 30th. Amdocs’s payout ratio is currently 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.