New York State Teachers Retirement System Invests $930,000 in Amdocs Limited (NASDAQ:DOX)

New York State Teachers Retirement System bought a new position in Amdocs Limited (NASDAQ:DOX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,578 shares of the technology company’s stock, valued at approximately $930,000.

A number of other hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. acquired a new stake in Amdocs during the 1st quarter valued at $7,002,000. Raymond James Financial Services Advisors Inc. increased its holdings in Amdocs by 6.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 11,833 shares of the technology company’s stock valued at $973,000 after purchasing an additional 665 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Amdocs by 40.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 13,332 shares of the technology company’s stock valued at $1,097,000 after purchasing an additional 3,840 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in Amdocs by 3.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 46,252 shares of the technology company’s stock valued at $4,041,000 after purchasing an additional 1,446 shares in the last quarter. Finally, Yousif Capital Management LLC increased its holdings in Amdocs by 6.4% during the 1st quarter. Yousif Capital Management LLC now owns 6,770 shares of the technology company’s stock valued at $557,000 after purchasing an additional 405 shares in the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Stock Up 0.2 %

Shares of Amdocs stock opened at $85.11 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.21. Amdocs Limited has a 12 month low of $78.38 and a 12 month high of $99.75. The business has a fifty day simple moving average of $90.10 and a 200 day simple moving average of $87.23. The stock has a market cap of $10.00 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.38 and a beta of 0.69.

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

Amdocs Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, March 29th will be paid a dividend of $0.479 per share. The ex-dividend date of this dividend is Wednesday, March 27th. 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 dividend yield of 2.25%. Amdocs’s payout ratio is 40.90%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citigroup raised their price target on Amdocs from $96.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Barclays lifted their target price on Amdocs from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Finally, StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 15th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $108.60.

About Amdocs

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.