Leuthold Group LLC Raises Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Leuthold Group LLC grew its stake in Amdocs Limited (NASDAQ:DOX) by 41.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,641 shares of the technology company’s stock after purchasing an additional 1,067 shares during the quarter. Leuthold Group LLC’s holdings in Amdocs were worth $320,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Bahl & Gaynor Inc. boosted its holdings in Amdocs by 2.6% in the 4th quarter. Bahl & Gaynor Inc. now owns 377,316 shares of the technology company’s stock valued at $33,162,000 after purchasing an additional 9,436 shares during the last quarter. New York State Teachers Retirement System purchased a new stake in Amdocs in the fourth quarter valued at $930,000. Diversified Trust Co purchased a new position in shares of Amdocs during the 4th quarter worth $3,957,000. Wedge Capital Management L L P NC increased its position in shares of Amdocs by 9.3% during the 4th quarter. Wedge Capital Management L L P NC now owns 917,808 shares of the technology company’s stock worth $80,666,000 after purchasing an additional 77,833 shares during the last quarter. Finally, Legato Capital Management LLC acquired a new position in Amdocs in the fourth quarter valued at about $2,260,000. Institutional investors and hedge funds own 92.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Barclays raised their target price on shares of Amdocs from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Citigroup lifted 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 analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $108.60.

Amdocs Stock Performance

DOX traded up $1.05 during trading on Monday, hitting $84.95. 632,725 shares of the stock were exchanged, compared to its average volume of 658,930. The firm has a market capitalization of $9.99 billion, a P/E ratio of 17.97, a PEG ratio of 1.36 and a beta of 0.70. Amdocs Limited has a 1-year low of $78.38 and a 1-year high of $99.75. The stock has a fifty day moving average price of $88.95 and a two-hundred day moving average price of $87.47. 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 (NASDAQ:DOX) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.16. Amdocs had a net margin of 11.30% and a return on equity of 17.79%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the business earned $1.33 EPS. Amdocs’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts predict that Amdocs Limited will post 5.87 earnings per share for the current year.

Amdocs Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, March 29th were paid a dividend of $0.479 per share. This is an increase from Amdocs’s previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a yield of 2.26%. The ex-dividend date was Wednesday, March 27th. Amdocs’s payout ratio is currently 41.11%.

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.