Westwood Holdings Group Inc. Raises Holdings in Amdocs Limited (NASDAQ:DOX)

Westwood Holdings Group Inc. grew its stake in Amdocs Limited (NASDAQ:DOX) by 16.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 113,831 shares of the technology company’s stock after buying an additional 15,806 shares during the quarter. Westwood Holdings Group Inc. owned 0.10% of Amdocs worth $8,984,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of Amdocs by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 171,456 shares of the technology company’s stock valued at $15,069,000 after purchasing an additional 5,211 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Amdocs by 22.2% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 5,664 shares of the technology company’s stock valued at $498,000 after buying an additional 1,029 shares during the last quarter. Beacon Pointe Advisors LLC acquired a new stake in Amdocs in the fourth quarter valued at $200,000. Norges Bank purchased a new stake in Amdocs during the 4th quarter worth about $119,694,000. Finally, UBS Group AG boosted its position in shares of Amdocs by 63.3% during the 4th quarter. UBS Group AG now owns 406,745 shares of the technology company’s stock worth $35,749,000 after acquiring an additional 157,691 shares in the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a report on Friday, September 13th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $102.50.

Amdocs Stock Down 1.2 %

Amdocs stock opened at $86.21 on Friday. The company has a market capitalization of $10.13 billion, a P/E ratio of 19.37, a PEG ratio of 1.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $94.04. The stock has a 50-day simple moving average of $84.84 and a 200-day simple moving average of $84.02.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data 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 return on equity of 17.89% and a net margin of 10.21%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the company earned $1.41 earnings per share. The company’s revenue was up 1.1% compared to the same quarter last year. Equities research analysts expect that Amdocs Limited will post 5.67 earnings per share for the current year.

Amdocs Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Monday, September 30th. This represents a $1.92 annualized dividend and a dividend yield of 2.22%. Amdocs’s dividend payout ratio (DPR) is 42.92%.

Amdocs Company 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.