Ascent Group LLC Makes New $205,000 Investment in Amdocs Limited (NASDAQ:DOX)

Ascent Group LLC purchased a new position in shares of Amdocs Limited (NASDAQ:DOX) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,266 shares of the technology company’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Amdocs by 22.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 6,862 shares of the technology company’s stock valued at $603,000 after buying an additional 1,263 shares during the period. Blue Trust Inc. lifted its stake in Amdocs by 17.9% in the fourth quarter. Blue Trust Inc. now owns 1,418 shares of the technology company’s stock valued at $119,000 after acquiring an additional 215 shares during the last quarter. Quent Capital LLC lifted its stake in Amdocs by 27.3% in the fourth quarter. Quent Capital LLC now owns 1,148 shares of the technology company’s stock valued at $101,000 after acquiring an additional 246 shares during the last quarter. Tempus Wealth Planning LLC raised its position in shares of Amdocs by 9.0% in the fourth quarter. Tempus Wealth Planning LLC now owns 3,644 shares of the technology company’s stock valued at $320,000 after purchasing an additional 300 shares during the period. Finally, Boston Trust Walden Corp raised its position in shares of Amdocs by 3.2% in the fourth quarter. Boston Trust Walden Corp now owns 525,951 shares of the technology company’s stock valued at $46,226,000 after purchasing an additional 16,278 shares during the period. 92.02% of the stock is owned by institutional investors.

Amdocs Price Performance

Amdocs stock traded down $0.02 during trading hours on Monday, reaching $86.90. 755,640 shares of the stock were exchanged, compared to its average volume of 723,671. The company has a market cap of $10.21 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. 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 Limited has a twelve month low of $74.41 and a twelve month high of $94.35. The stock has a 50 day moving average of $79.36 and a two-hundred day moving average of $85.71.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings data on Wednesday, May 8th. The technology company reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.05). The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.25 billion. Amdocs had a return on equity of 17.85% and a net margin of 10.62%. Equities analysts expect that Amdocs Limited will post 5.72 EPS for the current fiscal year.

Amdocs Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, June 28th were given a dividend of $0.479 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.92 annualized dividend and a yield of 2.20%. Amdocs’s dividend payout ratio is presently 43.15%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DOX shares. Citigroup dropped their price objective on shares of Amdocs from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Robert W. Baird lowered their price target 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 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, the company currently has an average rating of “Moderate Buy” and an average price target of $103.80.

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.