Ascent Group LLC Invests $205,000 in Amdocs Limited (NASDAQ:DOX)

Ascent Group LLC acquired a new position in shares of Amdocs Limited (NASDAQ:DOX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,266 shares of the technology company’s stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC bought a new stake in Amdocs in the fourth quarter valued at approximately $25,000. Oakworth Capital Inc. purchased a new position in shares of Amdocs during the fourth quarter valued at approximately $26,000. Norwood Financial Corp purchased a new position in shares of Amdocs during the first quarter valued at approximately $33,000. Central Pacific Bank Trust Division purchased a new position in shares of Amdocs during the first quarter valued at approximately $53,000. Finally, Riverview Trust Co purchased a new position in shares of Amdocs during the first quarter valued at approximately $55,000. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Analysts Set New Price Targets

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

Amdocs Stock Down 0.0 %

DOX stock traded down $0.02 on Monday, hitting $86.90. 755,640 shares of the company’s stock were exchanged, compared to its average volume of 723,671. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $94.35. The firm has a 50 day moving average price of $79.36 and a two-hundred day moving average price of $85.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.32 and a current ratio of 1.32. The stock 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.

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

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, June 28th were issued a $0.479 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.92 dividend on an annualized basis and a yield of 2.20%. 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.