Acadian Asset Management LLC Raises Holdings in Amdocs Limited (NASDAQ:DOX)

Acadian Asset Management LLC raised its stake in Amdocs Limited (NASDAQ:DOX) by 22.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,395,894 shares of the technology company’s stock after purchasing an additional 258,343 shares during the quarter. Acadian Asset Management LLC owned about 1.19% of Amdocs worth $126,119,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new stake in shares of Amdocs during the fourth quarter valued at about $25,000. Oakworth Capital Inc. acquired a new position in Amdocs in the fourth quarter worth about $26,000. Norwood Financial Corp acquired a new position in Amdocs in the first quarter worth about $33,000. Central Pacific Bank Trust Division acquired a new position in Amdocs in the first quarter worth about $53,000. Finally, Riverview Trust Co acquired a new position in Amdocs in the first quarter worth about $55,000. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Price Performance

NASDAQ:DOX traded down $1.07 during midday trading on Friday, hitting $82.68. 619,692 shares of the stock were exchanged, compared to its average volume of 777,341. Amdocs Limited has a one year low of $74.41 and a one year high of $96.69. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 1.46 and a beta of 0.74. The business has a 50-day moving average price of $79.17 and a two-hundred day moving average price of $85.88. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX) last announced its earnings results on Wednesday, May 8th. The technology company reported $1.38 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.05). Amdocs had a return on equity of 17.85% and a net margin of 10.62%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.25 billion. Sell-side analysts predict that Amdocs Limited will post 5.72 EPS for the current year.

Amdocs Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 28th will be given a $0.479 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.92 annualized dividend and a yield of 2.32%. Amdocs’s dividend payout ratio (DPR) is 43.15%.

Wall Street Analyst Weigh In

DOX has been the subject of a number of research reports. Citigroup decreased their price target on Amdocs from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Robert W. Baird cut their target price on shares of Amdocs from $97.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.80.

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.