Foundations Investment Advisors LLC Takes $226,000 Position in Amdocs Limited (NASDAQ:DOX)

Foundations Investment Advisors LLC acquired a new position in shares of Amdocs Limited (NASDAQ:DOX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,589 shares of the technology company’s stock, valued at approximately $226,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Amdocs by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,457,368 shares of the technology company’s stock worth $128,088,000 after purchasing an additional 20,283 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Amdocs by 1.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 62,367 shares of the technology company’s stock worth $5,636,000 after acquiring an additional 1,036 shares in the last quarter. Diversified Trust Co raised its position in shares of Amdocs by 43.9% during the first quarter. Diversified Trust Co now owns 64,792 shares of the technology company’s stock worth $5,855,000 after purchasing an additional 19,774 shares during the period. Wasatch Advisors LP bought a new position in shares of Amdocs during the 1st quarter valued at about $1,943,000. Finally, Dudley & Shanley Inc. grew its position in shares of Amdocs by 1.0% in the 1st quarter. Dudley & Shanley Inc. now owns 263,050 shares of the technology company’s stock valued at $23,772,000 after purchasing an additional 2,600 shares during the period. Institutional investors own 92.02% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Amdocs Price Performance

NASDAQ DOX opened at $88.87 on Friday. The firm’s 50 day moving average is $87.08 and its 200-day moving average is $83.59. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $10.45 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $94.04.

Amdocs (NASDAQ:DOX) last issued its quarterly 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. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Amdocs had a net margin of 10.21% and a return on equity of 17.89%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.41 EPS. Equities research analysts anticipate that Amdocs Limited will post 5.67 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, September 30th were given a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Monday, September 30th. Amdocs’s dividend payout ratio (DPR) is 42.92%.

About Amdocs

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.