Vest Financial LLC Increases Holdings in Amdocs Limited $DOX

Vest Financial LLC lifted its position in shares of Amdocs Limited (NASDAQ:DOX) by 14.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,452 shares of the technology company’s stock after purchasing an additional 444 shares during the period. Vest Financial LLC’s holdings in Amdocs were worth $315,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Cornerstone Planning Group LLC purchased a new stake in Amdocs during the 1st quarter valued at approximately $27,000. Quarry LP increased its position in Amdocs by 42.2% during 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 period. Cullen Frost Bankers Inc. acquired a new position in Amdocs during the 1st quarter worth approximately $39,000. SVB Wealth LLC acquired a new position in Amdocs during the 1st quarter worth approximately $43,000. Finally, Geneos Wealth Management Inc. increased its position in Amdocs by 213.9% during 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 period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Stock Performance

DOX opened at $82.43 on Thursday. Amdocs Limited has a twelve month low of $78.61 and a twelve month high of $95.41. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23. The stock has a market cap of $9.31 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 1.39 and a beta of 0.51. The business’s 50 day moving average is $84.67 and its 200-day moving average is $87.55.

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

Amdocs Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Amdocs’s dividend payout ratio is currently 42.80%.

Analysts Set New Price Targets

DOX has been the topic of a number of research reports. Wall Street Zen upgraded Amdocs from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Amdocs in a research note on Wednesday, October 8th. Finally, Wolfe Research started coverage on Amdocs in a research note on Tuesday, July 8th. They issued an “outperform” rating on the stock. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $108.00.

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.