Amdocs Limited (NASDAQ:DOX) Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its stake in shares of Amdocs Limited (NASDAQ:DOX) by 0.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 123,529 shares of the technology company’s stock after purchasing an additional 251 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.11% of Amdocs worth $11,163,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in DOX. Pzena Investment Management LLC boosted its holdings in Amdocs by 0.4% in the first quarter. Pzena Investment Management LLC now owns 4,254,777 shares of the technology company’s stock worth $384,504,000 after purchasing an additional 15,264 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Amdocs by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,007,777 shares of the technology company’s stock worth $176,464,000 after purchasing an additional 94,856 shares during the period. American Century Companies Inc. grew its holdings in Amdocs by 6.2% during the third quarter. American Century Companies Inc. now owns 1,980,219 shares of the technology company’s stock valued at $167,309,000 after purchasing an additional 115,744 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Amdocs by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,457,368 shares of the technology company’s stock valued at $128,088,000 after purchasing an additional 20,283 shares during the period. Finally, Brandes Investment Partners LP lifted its stake in shares of Amdocs by 22.1% in the fourth quarter. Brandes Investment Partners LP now owns 1,402,646 shares of the technology company’s stock worth $123,279,000 after buying an additional 254,304 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on DOX shares. Robert W. Baird decreased their target price on Amdocs from $97.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, May 9th. Citigroup decreased their target price on Amdocs from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.80.

Amdocs Price Performance

DOX stock traded up $1.29 during midday trading on Friday, reaching $80.69. 609,777 shares of the company’s stock traded hands, compared to its average volume of 803,043. The company has a 50-day simple moving average of $79.30 and a two-hundred day simple moving average of $86.07. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $97.98. The company has a market cap of $9.48 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 1.42 and a beta of 0.74. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.21.

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

Amdocs Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.37%. Amdocs’s payout ratio is 43.15%.

Amdocs 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.