FORA Capital LLC Takes $491,000 Position in Amdocs Limited (NASDAQ:DOX)

FORA Capital LLC acquired a new position in shares of Amdocs Limited (NASDAQ:DOX) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,108 shares of the technology company’s stock, valued at approximately $491,000.

Other large investors have also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Amdocs by 13.3% in the 1st quarter. FMR LLC now owns 14,815,460 shares of the technology company’s stock worth $1,422,729,000 after purchasing an additional 1,735,280 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Amdocs in the first quarter worth $104,410,000. Norges Bank bought a new stake in Amdocs in the fourth quarter valued at $112,930,000. Parnassus Investments LLC boosted its holdings in shares of Amdocs by 116.3% during the first quarter. Parnassus Investments LLC now owns 2,268,337 shares of the technology company’s stock valued at $217,828,000 after acquiring an additional 1,219,691 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of Amdocs by 76.5% during the fourth quarter. Alliancebernstein L.P. now owns 1,133,405 shares of the technology company’s stock worth $103,027,000 after acquiring an additional 491,265 shares during the last quarter. Institutional investors own 90.58% of the company’s stock.

Amdocs Price Performance

Shares of NASDAQ:DOX opened at $88.87 on Thursday. The firm has a 50 day simple moving average of $92.10 and a 200 day simple moving average of $93.10. Amdocs Limited has a 52 week low of $78.02 and a 52 week high of $99.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market cap of $10.74 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 1.52 and a beta of 0.66.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.08. Amdocs had a net margin of 11.80% and a return on equity of 17.60%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.23 billion. As a group, research analysts expect that Amdocs Limited will post 5.31 earnings per share for the current year.

Amdocs Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Thursday, September 28th. Amdocs’s dividend payout ratio is currently 37.26%.

Wall Street Analyst Weigh In

Several research firms have commented on DOX. 888 restated a “reiterates” rating on shares of Amdocs in a research report on Thursday, May 11th. Bank of America increased their target price on shares of Amdocs from $100.00 to $110.00 in a research report on Friday, June 16th. Oppenheimer upped their price target on shares of Amdocs from $99.00 to $109.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. StockNews.com started coverage on shares of Amdocs in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Finally, Barclays upgraded Amdocs from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $100.00 to $115.00 in a research report on Tuesday, May 16th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $106.00.

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 CES21, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; the Commerce and Care suite for order capture, handling, and customer engagement; 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; MarketONE, a cloud-native business ecosystem; Digital Brands Suite, a pre-integrated digital business suite for digital telecom brands and small-scale service providers; and eSIM Cloud for service providers.