Denali Advisors LLC Purchases 700 Shares of Amdocs Limited (NASDAQ:DOX)

Denali Advisors LLC increased its position in shares of Amdocs Limited (NASDAQ:DOX) by 10.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,611 shares of the technology company’s stock after buying an additional 700 shares during the period. Denali Advisors LLC’s holdings in Amdocs were worth $601,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sargent Investment Group LLC acquired a new position in shares of Amdocs during the 2nd quarter worth about $289,000. Edgestream Partners L.P. bought a new position in Amdocs during the second quarter worth about $1,542,000. Sierra Summit Advisors LLC increased its position in Amdocs by 8.5% during the second quarter. Sierra Summit Advisors LLC now owns 4,323 shares of the technology company’s stock worth $341,000 after buying an additional 339 shares during the last quarter. Inspire Advisors LLC raised its stake in Amdocs by 124.1% in the second quarter. Inspire Advisors LLC now owns 5,962 shares of the technology company’s stock valued at $471,000 after buying an additional 3,301 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in shares of Amdocs by 6.7% in the second quarter. Envestnet Asset Management Inc. now owns 469,946 shares of the technology company’s stock valued at $37,088,000 after buying an additional 29,560 shares during the last quarter. 92.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a report on Friday, September 13th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amdocs presently has a consensus rating of “Buy” and a consensus target price of $102.50.

Amdocs Stock Down 0.6 %

Shares of DOX opened at $86.41 on Wednesday. The firm has a market cap of $10.16 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The firm’s 50-day simple moving average is $84.41 and its 200 day simple moving average is $84.07.

Amdocs (NASDAQ:DOX) last posted its earnings results on Wednesday, August 7th. The technology company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.60 by $0.02. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.25 billion. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.41 earnings per share. On average, analysts forecast that Amdocs Limited will post 5.67 earnings per share for the current year.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be given a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a yield of 2.22%. The ex-dividend date is Monday, September 30th. Amdocs’s payout ratio is 42.92%.

Amdocs Company 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.