Parallel Advisors LLC grew its stake in Amdocs Limited (NASDAQ:DOX – Free Report) by 11.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 11,455 shares of the technology company’s stock after purchasing an additional 1,216 shares during the period. Parallel Advisors LLC’s holdings in Amdocs were worth $1,045,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of DOX. Cornerstone Planning Group LLC bought a new stake in Amdocs in the first quarter worth $27,000. AdvisorNet Financial Inc lifted its position in Amdocs by 382.9% in the first quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company’s stock worth $31,000 after buying an additional 268 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Amdocs in the 1st quarter worth about $31,000. Quarry LP lifted its holdings in shares of Amdocs by 42.2% in the 1st quarter. Quarry LP now owns 391 shares of the technology company’s stock worth $36,000 after acquiring an additional 116 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Amdocs in the 1st quarter worth about $39,000. 92.02% of the stock is owned by institutional investors.
Get Amdocs alerts:
Amdocs Trading Up 0.1%
Shares of DOX opened at $84.08 on Thursday. The company has a market capitalization of $9.49 billion, a P/E ratio of 17.05, a P/E/G ratio of 1.53 and a beta of 0.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a 50-day moving average price of $86.70 and a 200 day moving average price of $88.46. Amdocs Limited has a one year low of $78.61 and a one year high of $95.41.
Amdocs (NASDAQ:DOX – Get Free Report) last released its earnings results on Wednesday, August 6th. The technology company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.71 by $0.01. Amdocs had a return on equity of 19.66% and a net margin of 11.94%.The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the business posted $1.62 EPS. The business’s revenue was down 8.4% on a year-over-year basis. Sell-side analysts forecast that Amdocs Limited will post 6.21 EPS for the current fiscal year.
Amdocs Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.527 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.11 annualized dividend and a dividend yield of 2.5%. Amdocs’s dividend payout ratio (DPR) is presently 42.60%.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on DOX. Wolfe Research began coverage on shares of Amdocs in a research note on Tuesday, July 8th. They issued an “outperform” rating for the company. Wall Street Zen raised Amdocs from a “hold” rating to a “buy” rating in a research note on Sunday, August 10th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Amdocs currently has a consensus rating of “Buy” and a consensus target price of $105.33.
Get Our Latest Report on Amdocs
About Amdocs
(Free Report)
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.
See Also
Five stocks we like better than Amdocs
What Are the FAANG Stocks and Are They Good Investments?
Biotech Breakouts: 3 Stocks With Massive Upside Potential
EV Stocks and How to Profit from Them
Powering Up: A Buy Rating Signals GE Vernova’s AI Tailwinds
How to start investing in penny stocks
The Side of Rate Cuts Nobody Is Telling You About
Want to see what other hedge funds are holding DOX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amdocs Limited (NASDAQ:DOX – Free Report).