HighTower Advisors LLC Acquires 2,561 Shares of Amdocs Limited (NASDAQ:DOX)

HighTower Advisors LLC grew its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 20.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,374 shares of the technology company’s stock after buying an additional 2,561 shares during the quarter. HighTower Advisors LLC’s holdings in Amdocs were worth $1,309,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB increased its holdings in Amdocs by 8.3% during the fourth quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company’s stock worth $141,112,000 after buying an additional 127,426 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Amdocs by 7.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock valued at $154,587,000 after acquiring an additional 125,654 shares during the period. Dudley & Shanley Inc. increased its stake in shares of Amdocs by 7.6% during the 3rd quarter. Dudley & Shanley Inc. now owns 261,826 shares of the technology company’s stock worth $22,905,000 after purchasing an additional 18,600 shares during the last quarter. Citigroup Inc. lifted its stake in Amdocs by 8.7% in the 3rd quarter. Citigroup Inc. now owns 78,491 shares of the technology company’s stock valued at $6,866,000 after purchasing an additional 6,294 shares during the last quarter. Finally, Range Financial Group LLC bought a new position in Amdocs during the fourth quarter worth about $1,376,000. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Amdocs presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.20.

Amdocs Stock Up 0.7 %

Shares of DOX opened at $90.42 on Wednesday. The firm’s 50-day simple moving average is $87.46 and its 200 day simple moving average is $87.23. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. The firm has a market cap of $10.21 billion, a P/E ratio of 20.98, a price-to-earnings-growth ratio of 1.47 and a beta of 0.68. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $93.34.

Amdocs (NASDAQ:DOX) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share 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%. On average, analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be given a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s payout ratio is presently 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.