Gallacher Capital Management LLC Makes New $416,000 Investment in Amdocs Limited (NASDAQ:DOX)

Gallacher Capital Management LLC purchased a new position in shares of Amdocs Limited (NASDAQ:DOX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,728 shares of the technology company’s stock, valued at approximately $416,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DOX. Acadian Asset Management LLC acquired a new position in Amdocs in the third quarter valued at about $96,934,000. Invesco Ltd. increased its holdings in Amdocs by 31.0% during the third quarter. Invesco Ltd. now owns 2,629,346 shares of the technology company’s stock worth $222,153,000 after buying an additional 621,962 shares during the last quarter. Qube Research & Technologies Ltd raised its position in Amdocs by 333.7% during the third quarter. Qube Research & Technologies Ltd now owns 449,788 shares of the technology company’s stock worth $38,003,000 after acquiring an additional 346,071 shares in the last quarter. Meitav Investment House Ltd. lifted its stake in Amdocs by 2,132.9% in the third quarter. Meitav Investment House Ltd. now owns 299,214 shares of the technology company’s stock valued at $25,609,000 after acquiring an additional 285,814 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Amdocs by 39.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 796,767 shares of the technology company’s stock worth $67,319,000 after purchasing an additional 224,518 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DOX has been the topic of a number of analyst reports. StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. Citigroup boosted their price target on Amdocs from $96.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Barclays lifted their price objective on shares of Amdocs from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $108.60.

Amdocs Price Performance

Shares of DOX stock traded up $1.05 during trading on Monday, hitting $84.95. The company had a trading volume of 576,473 shares, compared to its average volume of 655,796. Amdocs Limited has a 52 week low of $78.38 and a 52 week high of $99.75. The stock has a market capitalization of $9.99 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.36 and a beta of 0.70. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.21. The stock’s 50-day moving average is $88.95 and its two-hundred day moving average is $87.47.

Amdocs (NASDAQ:DOX) last issued its earnings results on Tuesday, February 6th. The technology company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.16. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Amdocs had a net margin of 11.30% and a return on equity of 17.79%. During the same quarter last year, the company earned $1.33 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. As a group, analysts predict that Amdocs Limited will post 5.87 EPS for the current fiscal year.

Amdocs Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, March 29th were given a dividend of $0.479 per share. This is a boost from Amdocs’s previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Wednesday, March 27th. Amdocs’s dividend payout ratio (DPR) is 41.11%.

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.