KFG Wealth Management LLC Purchases New Holdings in Amdocs Limited (NASDAQ:DOX)

KFG Wealth Management LLC purchased a new stake in Amdocs Limited (NASDAQ:DOX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,813 shares of the technology company’s stock, valued at approximately $247,000.

A number of other large investors also recently bought and sold shares of the company. Financiere des Professionnels Fonds d investissement inc. lifted its holdings in Amdocs by 1.3% during the 4th quarter. Financiere des Professionnels Fonds d investissement inc. now owns 9,790 shares of the technology company’s stock worth $860,000 after buying an additional 130 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Amdocs by 6.3% in the 3rd quarter. First Eagle Investment Management LLC now owns 2,448 shares of the technology company’s stock worth $207,000 after purchasing an additional 145 shares during the last quarter. CI Investments Inc. lifted its holdings in shares of Amdocs by 0.7% in the 3rd quarter. CI Investments Inc. now owns 21,000 shares of the technology company’s stock worth $1,774,000 after purchasing an additional 152 shares during the last quarter. Balentine LLC lifted its holdings in shares of Amdocs by 5.3% in the 3rd quarter. Balentine LLC now owns 3,050 shares of the technology company’s stock worth $258,000 after purchasing an additional 153 shares during the last quarter. Finally, PFG Advisors lifted its holdings in shares of Amdocs by 4.8% in the 3rd quarter. PFG Advisors now owns 3,402 shares of the technology company’s stock worth $287,000 after purchasing an additional 155 shares during the last quarter. Institutional investors own 92.02% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on DOX. Barclays raised their price target on Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Citigroup raised their price target on Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Amdocs presently has a consensus rating of “Buy” and a consensus price target of $108.60.

Amdocs Stock Up 1.2 %

DOX opened at $86.13 on Friday. The stock’s 50 day moving average price is $90.03 and its 200 day moving average price is $87.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market cap of $10.12 billion, a P/E ratio of 18.44, a P/E/G ratio of 1.38 and a beta of 0.69. Amdocs Limited has a 12 month low of $78.38 and a 12 month high of $99.75.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.16. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the company posted $1.33 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. As a group, research analysts predict that Amdocs Limited will post 5.87 earnings per share for the current year.

Amdocs Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, March 29th will be paid a $0.479 dividend. This is a positive change from Amdocs’s previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Wednesday, March 27th. Amdocs’s dividend payout ratio is currently 41.11%.

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.