Connor Clark & Lunn Investment Management Ltd. Grows Position in Amdocs Limited (NASDAQ:DOX)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Amdocs Limited (NASDAQ:DOX) by 280.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 126,748 shares of the technology company’s stock after purchasing an additional 93,471 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.11% of Amdocs worth $10,791,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB lifted its position in Amdocs by 8.3% during the fourth quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company’s stock valued at $141,112,000 after purchasing an additional 127,426 shares in the last quarter. Mirabella Financial Services LLP raised its holdings in Amdocs by 204.2% during the third quarter. Mirabella Financial Services LLP now owns 14,302 shares of the technology company’s stock valued at $1,250,000 after acquiring an additional 9,600 shares during the period. Victory Capital Management Inc. raised its holdings in Amdocs by 1.9% during the third quarter. Victory Capital Management Inc. now owns 478,137 shares of the technology company’s stock valued at $41,827,000 after acquiring an additional 9,098 shares during the period. Pacer Advisors Inc. raised its holdings in Amdocs by 7.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock valued at $154,587,000 after acquiring an additional 125,654 shares during the period. Finally, Dudley & Shanley Inc. raised its holdings in Amdocs by 7.6% during the third quarter. Dudley & Shanley Inc. now owns 261,826 shares of the technology company’s stock valued at $22,905,000 after acquiring an additional 18,600 shares during the period. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Trading Up 1.6 %

Shares of DOX stock opened at $87.99 on Friday. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $93.34. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. The stock’s 50-day moving average price is $86.71 and its 200-day moving average price is $87.05. The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 1.47 and a beta of 0.68.

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

Amdocs Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.527 per share. This is a boost from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 annualized dividend and a yield of 2.40%. The ex-dividend date is Monday, March 31st. Amdocs’s payout ratio is presently 48.72%.

Analyst Ratings Changes

Separately, StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Amdocs has a consensus rating of “Moderate Buy” and a consensus target price of $101.20.

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.