Oppenheimer & Co. Inc. Raises Stake in Amdocs Limited (NASDAQ:DOX)

Oppenheimer & Co. Inc. grew its stake in shares of Amdocs Limited (NASDAQ:DOX) by 32.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,025 shares of the technology company’s stock after purchasing an additional 10,306 shares during the period. Oppenheimer & Co. Inc.’s holdings in Amdocs were worth $3,317,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in DOX. Private Advisor Group LLC raised its stake in shares of Amdocs by 58.7% during the 4th quarter. Private Advisor Group LLC now owns 5,491 shares of the technology company’s stock worth $483,000 after buying an additional 2,031 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Amdocs by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 171,456 shares of the technology company’s stock worth $15,069,000 after buying an additional 5,211 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Amdocs during the 4th quarter worth $63,000. Avantax Advisory Services Inc. raised its stake in shares of Amdocs by 13.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 6,815 shares of the technology company’s stock worth $599,000 after buying an additional 799 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Amdocs by 22.2% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 5,664 shares of the technology company’s stock worth $498,000 after buying an additional 1,029 shares during the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Trading Up 1.7 %

Shares of DOX stock opened at $86.49 on Monday. The firm has a 50-day moving average price of $84.08 and a 200 day moving average price of $84.14. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $94.04. The company has a market capitalization of $10.17 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 1.52 and a beta of 0.74. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21.

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

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs’s dividend payout ratio is currently 43.15%.

Analyst Ratings Changes

Separately, StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Friday. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $102.50.

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.