Mirae Asset Global Investments Co. Ltd. Buys 7,813 Shares of Amdocs Limited (NASDAQ:DOX)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Amdocs Limited (NASDAQ:DOX) by 597.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,120 shares of the technology company’s stock after acquiring an additional 7,813 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Amdocs were worth $778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Trust Co. NA raised its holdings in Amdocs by 62.9% during the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock worth $27,000 after purchasing an additional 117 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Amdocs during the third quarter worth $28,000. Catalyst Capital Advisors LLC bought a new position in Amdocs during the third quarter worth $55,000. GAMMA Investing LLC lifted its holdings in Amdocs by 115.1% in the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after buying an additional 428 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in Amdocs during the third quarter valued at $77,000. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Stock Performance

Shares of Amdocs stock opened at $86.32 on Wednesday. The business has a 50-day simple moving average of $85.90 and a 200 day simple moving average of $86.48. Amdocs Limited has a one year low of $74.41 and a one year high of $94.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20. The firm has a market capitalization of $9.74 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 1.41 and a beta of 0.71.

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

Amdocs Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Monday, March 31st will be paid a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.44%. This is a positive change from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, March 31st. Amdocs’s dividend payout ratio (DPR) is 44.55%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DOX. StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Oppenheimer lifted their target price on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Barclays cut their price target on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $101.20.

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.