Ritholtz Wealth Management Acquires 14,230 Shares of Amdocs Limited $DOX

Ritholtz Wealth Management grew its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 445.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,425 shares of the technology company’s stock after buying an additional 14,230 shares during the period. Ritholtz Wealth Management’s holdings in Amdocs were worth $1,590,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of DOX. Cornerstone Planning Group LLC purchased a new position in shares of Amdocs in the 1st quarter worth about $27,000. Quarry LP raised its position in shares of Amdocs by 42.2% in the 1st quarter. Quarry LP now owns 391 shares of the technology company’s stock worth $36,000 after purchasing an additional 116 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Amdocs in the 1st quarter worth about $39,000. SVB Wealth LLC purchased a new position in shares of Amdocs in the 1st quarter worth about $43,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Amdocs by 213.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 700 shares of the technology company’s stock worth $64,000 after purchasing an additional 477 shares during the last quarter. Institutional investors own 92.02% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Amdocs in a research report on Wednesday, October 8th. Wolfe Research assumed coverage on Amdocs in a research report on Tuesday, July 8th. They issued an “outperform” rating for the company. Finally, Wall Street Zen raised Amdocs from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $108.00.

Amdocs Stock Performance

Shares of NASDAQ DOX opened at $82.94 on Friday. The firm’s 50-day moving average price is $84.41 and its 200-day moving average price is $87.43. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. The company has a market cap of $9.36 billion, a PE ratio of 16.82, a PEG ratio of 1.37 and a beta of 0.51. Amdocs Limited has a 52-week low of $78.61 and a 52-week high of $95.41.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.01. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Amdocs had a net margin of 11.94% and a return on equity of 19.66%. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.62 EPS. As a group, analysts anticipate that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Amdocs’s dividend payout ratio (DPR) is presently 42.60%.

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.