Bahl & Gaynor Inc. Raises Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Bahl & Gaynor Inc. grew its stake in Amdocs Limited (NASDAQ:DOX) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 377,316 shares of the technology company’s stock after acquiring an additional 9,436 shares during the quarter. Bahl & Gaynor Inc. owned about 0.32% of Amdocs worth $33,162,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in DOX. Allspring Global Investments Holdings LLC increased its stake in Amdocs by 1.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,962,197 shares of the technology company’s stock valued at $419,256,000 after purchasing an additional 75,733 shares during the last quarter. Invesco Ltd. increased its stake in Amdocs by 31.0% during the third quarter. Invesco Ltd. now owns 2,629,346 shares of the technology company’s stock worth $222,153,000 after acquiring an additional 621,962 shares during the last quarter. Nordea Investment Management AB increased its stake in Amdocs by 1.9% during the third quarter. Nordea Investment Management AB now owns 2,109,185 shares of the technology company’s stock worth $180,905,000 after acquiring an additional 38,452 shares during the last quarter. American Century Companies Inc. increased its stake in Amdocs by 6.2% during the third quarter. American Century Companies Inc. now owns 1,980,219 shares of the technology company’s stock worth $167,309,000 after acquiring an additional 115,744 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Amdocs by 5.7% during the third quarter. Wellington Management Group LLP now owns 1,289,317 shares of the technology company’s stock worth $108,934,000 after acquiring an additional 69,825 shares during the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Trading Down 0.8 %

Shares of DOX opened at $84.98 on Friday. The company has a market capitalization of $9.99 billion, a P/E ratio of 18.20, a P/E/G ratio of 1.39 and a beta of 0.69. Amdocs Limited has a one year low of $78.38 and a one year high of $99.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a 50-day moving average price of $89.62 and a 200 day moving average price of $87.32.

Amdocs (NASDAQ:DOX) last released its earnings results 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 company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the business posted $1.33 EPS. Amdocs’s quarterly revenue was up 5.0% compared to the same quarter last year. Sell-side analysts forecast that Amdocs Limited will post 5.87 EPS for the current fiscal year.

Amdocs Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, March 29th were issued a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Wednesday, March 27th. This is an increase from Amdocs’s previous quarterly dividend of $0.44. Amdocs’s dividend payout ratio (DPR) is currently 41.11%.

Wall Street Analysts Forecast Growth

DOX has been the subject of a number of recent research reports. StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 15th. Citigroup increased their target price on Amdocs from $96.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Barclays increased 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. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $108.60.

Amdocs 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.