Proficio Capital Partners LLC Takes Position in Amdocs Limited (NASDAQ:DOX)

Proficio Capital Partners LLC purchased a new position in Amdocs Limited (NASDAQ:DOX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 22,392 shares of the technology company’s stock, valued at approximately $1,906,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DOX. Private Trust Co. NA lifted its holdings in shares of Amdocs by 62.9% in the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock worth $27,000 after buying an additional 117 shares during the period. Brooklyn Investment Group bought a new stake in shares of Amdocs in the 3rd quarter valued at about $28,000. Jones Financial Companies Lllp purchased a new stake in shares of Amdocs in the 4th quarter worth approximately $36,000. SBI Securities Co. Ltd. bought a new position in shares of Amdocs during the fourth quarter valued at approximately $41,000. Finally, Global Retirement Partners LLC raised its stake in Amdocs by 45.6% in the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock worth $48,000 after buying an additional 175 shares in the last quarter. Institutional investors own 92.02% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Amdocs has a consensus rating of “Moderate Buy” and an average price target of $101.20.

Amdocs Stock Down 0.1 %

Amdocs stock opened at $89.19 on Thursday. The business has a fifty day moving average price of $87.00 and a 200-day moving average price of $87.14. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $93.34. The stock has a market capitalization of $10.07 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 1.47 and a beta of 0.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.19). Amdocs had a return on equity of 18.89% and a net margin of 10.19%. Equities research analysts forecast that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be given a $0.527 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 2.36%. This is a positive change from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s dividend payout ratio is currently 48.72%.

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.