Norden Group LLC Has $364,000 Holdings in Amdocs Limited (NASDAQ:DOX)

Norden Group LLC raised its holdings in Amdocs Limited (NASDAQ:DOX) by 26.9% in the first quarter, Holdings Channel reports. The fund owned 3,978 shares of the technology company’s stock after acquiring an additional 843 shares during the period. Norden Group LLC’s holdings in Amdocs were worth $364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. boosted its position in Amdocs by 86.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company’s stock valued at $143,127,000 after purchasing an additional 781,061 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Amdocs by 25.4% during the 4th quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company’s stock worth $228,211,000 after purchasing an additional 543,490 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Amdocs by 16.1% in the 4th quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company’s stock valued at $261,756,000 after buying an additional 426,035 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Amdocs by 2,489.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 376,383 shares of the technology company’s stock valued at $32,045,000 after buying an additional 361,845 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Amdocs by 32.8% during the fourth quarter. Russell Investments Group Ltd. now owns 979,861 shares of the technology company’s stock worth $83,426,000 after buying an additional 242,093 shares during the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Price Performance

Amdocs stock opened at $86.12 on Thursday. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 1.43 and a beta of 0.52. The stock’s 50 day moving average is $90.93 and its 200-day moving average is $88.63. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.21. Amdocs Limited has a 12 month low of $78.61 and a 12 month high of $95.41.

Amdocs (NASDAQ:DOX) last posted its earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.07. Amdocs had a return on equity of 19.52% and a net margin of 11.39%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the firm earned $1.56 earnings per share. The company’s revenue was down 9.4% on a year-over-year basis. Equities research analysts expect that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Monday, June 30th were issued a dividend of $0.527 per share. The ex-dividend date was Monday, June 30th. This represents a $2.11 annualized dividend and a dividend yield of 2.45%. Amdocs’s dividend payout ratio is presently 44.42%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wall Street Zen raised shares of Amdocs from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. Wolfe Research initiated coverage on Amdocs in a research report on Tuesday, July 8th. They set an “outperform” rating on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Amdocs currently has an average rating of “Buy” and a consensus price target of $105.33.

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.