Handelsbanken Fonder AB Boosts Stake in Amdocs Limited (NASDAQ:DOX)

Handelsbanken Fonder AB lifted its stake in Amdocs Limited (NASDAQ:DOX) by 6.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,115 shares of the technology company’s stock after purchasing an additional 2,910 shares during the period. Handelsbanken Fonder AB’s holdings in Amdocs were worth $4,267,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Trust Co. NA increased its stake in shares of Amdocs by 62.9% in the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock worth $27,000 after purchasing an additional 117 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Amdocs in the 3rd quarter worth $28,000. Global Retirement Partners LLC increased its stake in Amdocs by 45.6% in the 4th quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock worth $48,000 after buying an additional 175 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Amdocs in the 3rd quarter worth $55,000. Finally, Meeder Asset Management Inc. purchased a new stake in Amdocs in the 3rd quarter worth $77,000. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Stock Down 1.6 %

DOX opened at $87.91 on Monday. The firm has a 50-day simple moving average of $86.07 and a two-hundred day simple moving average of $86.66. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The company has a market capitalization of $9.92 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.47 and a beta of 0.71. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. Analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Monday, March 31st. This is an increase from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s dividend payout ratio is 48.72%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DOX. Oppenheimer increased their price target on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, Barclays cut their price target on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Amdocs presently has an average rating of “Moderate Buy” and a consensus target price of $101.20.

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.