Russell Investments Group Ltd. Has $83.43 Million Holdings in Amdocs Limited (NASDAQ:DOX)

Russell Investments Group Ltd. increased its position in shares of Amdocs Limited (NASDAQ:DOX) by 32.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 979,861 shares of the technology company’s stock after buying an additional 242,093 shares during the period. Russell Investments Group Ltd. owned 0.87% of Amdocs worth $83,426,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new position in shares of Amdocs during the 4th quarter worth approximately $36,000. SBI Securities Co. Ltd. bought a new position in shares of Amdocs in the fourth quarter valued at about $41,000. Global Retirement Partners LLC lifted its stake in shares of Amdocs by 45.6% during the 4th quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock worth $48,000 after buying an additional 175 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Amdocs by 121.5% during the 4th quarter. Private Trust Co. NA now owns 671 shares of the technology company’s stock worth $57,000 after buying an additional 368 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in Amdocs by 199.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 686 shares of the technology company’s stock valued at $59,000 after buying an additional 457 shares during the last quarter. 92.02% of the stock is owned by institutional investors.

Amdocs Stock Performance

Shares of NASDAQ:DOX opened at $83.70 on Friday. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $93.34. The company’s 50 day moving average price is $88.29 and its two-hundred day moving average price is $87.45. The firm has a market cap of $9.45 billion, a PE ratio of 19.42, a PEG ratio of 1.47 and a beta of 0.68. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 earnings per share for the current year.

Amdocs Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be given a dividend of $0.527 per share. This is a boost from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 2.52%. Amdocs’s dividend payout ratio is currently 48.72%.

Analysts Set New Price Targets

Separately, StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Amdocs has an average 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.