Moran Wealth Management LLC Acquires 270 Shares of Amdocs Limited (NASDAQ:DOX)

Moran Wealth Management LLC grew its holdings in Amdocs Limited (NASDAQ:DOX) by 3.6% in the 4th quarter, HoldingsChannel reports. The firm owned 7,818 shares of the technology company’s stock after buying an additional 270 shares during the quarter. Moran Wealth Management LLC’s holdings in Amdocs were worth $666,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Private Trust Co. NA lifted its stake in shares of 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 purchased a new position in Amdocs in the third quarter valued at about $28,000. Jones Financial Companies Lllp bought a new position in Amdocs in the fourth quarter worth about $36,000. SBI Securities Co. Ltd. purchased a new stake in shares of Amdocs during the fourth quarter valued at about $41,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of Amdocs by 45.6% in the 4th quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock valued at $48,000 after buying an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Amdocs Trading Down 1.5 %

NASDAQ DOX opened at $87.43 on Thursday. The stock has a market cap of $9.87 billion, a P/E ratio of 20.29, a P/E/G ratio of 1.47 and a beta of 0.68. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $93.83. The company has a fifty day simple moving average of $86.59 and a two-hundred day simple moving average of $87.04.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 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%. On average, analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be issued a $0.527 dividend. This represents a $2.11 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s dividend payout ratio is 48.72%.

Analyst Upgrades and Downgrades

Several research firms recently commented on DOX. Barclays reduced their price objective on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Oppenheimer increased their price objective on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.