Merit Financial Group LLC Acquires New Position in Amdocs Limited (NASDAQ:DOX)

Merit Financial Group LLC acquired a new stake in Amdocs Limited (NASDAQ:DOX) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,544 shares of the technology company’s stock, valued at approximately $233,000.

A number of other large investors also recently bought and sold shares of DOX. Pzena Investment Management LLC lifted its position in shares of Amdocs by 4.3% during the fourth quarter. Pzena Investment Management LLC now owns 6,634,549 shares of the technology company’s stock worth $564,866,000 after purchasing an additional 270,810 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Amdocs by 16.1% during the fourth quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company’s stock worth $261,756,000 after purchasing an additional 426,035 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Amdocs by 25.4% during the fourth quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company’s stock worth $228,211,000 after purchasing an additional 543,490 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in shares of Amdocs by 86.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company’s stock worth $143,127,000 after purchasing an additional 781,061 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Amdocs by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,672,193 shares of the technology company’s stock worth $143,262,000 after purchasing an additional 38,460 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Amdocs from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th.

Amdocs Stock Up 0.6%

DOX stock opened at $94.08 on Friday. The company’s 50 day moving average price is $88.47 and its 200 day moving average price is $87.59. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $94.61. The firm has a market capitalization of $10.62 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 1.47 and a beta of 0.52.

Amdocs (NASDAQ:DOX) last released its earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.07. Amdocs had a net margin of 10.19% and a return on equity of 18.89%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the firm earned $1.56 earnings per share. The business’s quarterly revenue was down 9.4% compared to the same quarter last year. On average, equities research analysts anticipate that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, June 30th will be paid a $0.527 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.11 annualized dividend and a yield of 2.24%. Amdocs’s dividend payout ratio is currently 44.21%.

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.