New York State Common Retirement Fund Increases Stock Holdings in Amdocs Limited (NASDAQ:DOX)

New York State Common Retirement Fund lifted its stake in shares of Amdocs Limited (NASDAQ:DOX) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 574,155 shares of the technology company’s stock after buying an additional 32,921 shares during the period. New York State Common Retirement Fund owned about 0.49% of Amdocs worth $50,462,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Impact Partnership Wealth LLC bought a new stake in Amdocs during the third quarter worth $171,000. DAVENPORT & Co LLC raised its stake in shares of Amdocs by 8.7% during the 3rd quarter. DAVENPORT & Co LLC now owns 2,785 shares of the technology company’s stock valued at $235,000 after purchasing an additional 223 shares during the period. Boston Trust Walden Corp raised its stake in shares of Amdocs by 0.5% during the 3rd quarter. Boston Trust Walden Corp now owns 509,673 shares of the technology company’s stock valued at $43,062,000 after purchasing an additional 2,439 shares during the period. Riverwater Partners LLC bought a new stake in shares of Amdocs during the 3rd quarter valued at $470,000. Finally, Oak Thistle LLC bought a new stake in shares of Amdocs during the 3rd quarter valued at $1,428,000. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Amdocs Trading Up 0.3 %

DOX opened at $86.57 on Wednesday. The business has a 50 day simple moving average of $89.93 and a two-hundred day simple moving average of $87.33. The firm has a market capitalization of $10.18 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.40 and a beta of 0.69. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.29 and a quick ratio of 1.29. Amdocs Limited has a one year low of $78.38 and a one year high of $99.75.

Amdocs (NASDAQ:DOX) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.16. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the company posted $1.33 EPS. Amdocs’s quarterly revenue was up 5.0% compared to the same quarter last year. Analysts predict that Amdocs Limited will post 5.87 EPS for the current year.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, March 29th will be paid a $0.479 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.92 annualized dividend and a dividend yield of 2.21%. This is an increase from Amdocs’s previous quarterly dividend of $0.44. Amdocs’s dividend payout ratio is presently 41.11%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. Citigroup increased their target price on Amdocs from $96.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, Barclays increased their target price on Amdocs from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $108.60.

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.