Amdocs Limited (NASDAQ:DOX) Stake Raised by Ritholtz Wealth Management

Ritholtz Wealth Management grew its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 18.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,195 shares of the technology company’s stock after buying an additional 507 shares during the period. Ritholtz Wealth Management’s holdings in Amdocs were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in shares of Amdocs during the fourth quarter valued at approximately $41,000. HighTower Advisors LLC raised its holdings in shares of Amdocs by 20.0% during the fourth quarter. HighTower Advisors LLC now owns 15,374 shares of the technology company’s stock valued at $1,309,000 after buying an additional 2,561 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Amdocs by 55.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company’s stock valued at $50,000 after buying an additional 208 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Amdocs by 16.1% during the fourth quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company’s stock valued at $261,756,000 after buying an additional 426,035 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in shares of Amdocs by 25.4% during the fourth quarter. LPL Financial LLC now owns 123,015 shares of the technology company’s stock valued at $10,473,000 after buying an additional 24,947 shares during the last quarter. Institutional investors own 92.02% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Amdocs from a “hold” rating to a “buy” rating in a report on Saturday, June 7th.

Amdocs Price Performance

Shares of NASDAQ:DOX opened at $91.23 on Friday. Amdocs Limited has a 12 month low of $77.17 and a 12 month high of $94.61. The stock has a market cap of $10.30 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.53 and a beta of 0.52. The stock’s 50 day moving average price is $89.69 and its 200 day moving average price is $87.82. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.16 and a quick ratio of 1.16.

Amdocs (NASDAQ:DOX) last announced its earnings results on Wednesday, May 7th. The technology company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.71 by $0.07. Amdocs had a return on equity of 19.52% and a net margin of 11.39%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the company earned $1.56 earnings per share. The firm’s quarterly revenue was down 9.4% compared to the same quarter last year. Equities research analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, June 30th will be issued a dividend of $0.527 per share. The ex-dividend date is Monday, June 30th. This represents a $2.11 annualized dividend and a yield of 2.31%. Amdocs’s payout ratio is 44.21%.

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.