Amdocs Limited (NASDAQ:DOX) Position Raised by Van ECK Associates Corp

Van ECK Associates Corp raised its position in shares of Amdocs Limited (NASDAQ:DOX) by 3.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,898 shares of the technology company’s stock after purchasing an additional 1,187 shares during the quarter. Van ECK Associates Corp’s holdings in Amdocs were worth $2,833,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of DOX. Norwood Financial Corp bought a new position in shares of Amdocs during the 1st quarter valued at about $33,000. Central Pacific Bank Trust Division bought a new position in shares of Amdocs in the first quarter valued at $53,000. Riverview Trust Co acquired a new stake in shares of Amdocs during the 1st quarter valued at $55,000. Quarry LP boosted its stake in shares of Amdocs by 168.9% during the 4th quarter. Quarry LP now owns 656 shares of the technology company’s stock worth $58,000 after acquiring an additional 412 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of Amdocs in the 4th quarter worth $63,000. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Citigroup dropped their price target on Amdocs from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, Robert W. Baird lowered their price objective on shares of Amdocs from $97.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.50.

Amdocs Trading Down 1.5 %

Shares of NASDAQ:DOX opened at $85.67 on Friday. The firm has a fifty day moving average of $83.11 and a two-hundred day moving average of $84.45. 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 Limited has a 12-month low of $74.41 and a 12-month high of $94.04. The firm has a market capitalization of $10.07 billion, a P/E ratio of 19.25, a price-to-earnings-growth ratio of 1.56 and a beta of 0.73.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.02. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the business earned $1.41 EPS. The business’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities analysts expect that Amdocs Limited will post 5.67 EPS for the current fiscal year.

Amdocs Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs’s payout ratio is 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.