Mirae Asset Global Investments Co. Ltd. Raises Position in Amdocs Limited (NASDAQ:DOX)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Amdocs Limited (NASDAQ:DOX) by 597.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,120 shares of the technology company’s stock after buying an additional 7,813 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Amdocs were worth $778,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Private Trust Co. NA increased its stake in Amdocs by 62.9% in the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after buying an additional 117 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Amdocs in the third quarter valued at approximately $28,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Amdocs during the third quarter valued at approximately $55,000. GAMMA Investing LLC lifted its holdings in Amdocs by 115.1% during the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock worth $70,000 after acquiring an additional 428 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in Amdocs in the third quarter worth $77,000. Institutional investors own 92.02% of the company’s stock.

Wall Street Analyst Weigh In

DOX has been the subject of several research analyst reports. Barclays decreased their target price on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Oppenheimer lifted their price objective on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, StockNews.com raised shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $101.20.

Amdocs Trading Up 0.6 %

Shares of Amdocs stock opened at $86.32 on Wednesday. The stock has a market capitalization of $9.74 billion, a P/E ratio of 20.03, a P/E/G ratio of 1.41 and a beta of 0.71. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $94.04. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. The stock’s 50-day simple moving average is $85.90 and its 200 day simple moving average is $86.48.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. As a group, research analysts anticipate that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Monday, March 31st will be given a $0.527 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 annualized dividend and a dividend yield of 2.44%. Amdocs’s payout ratio is 44.55%.

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.