Amdocs Limited (NASDAQ:DOX) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its holdings in Amdocs Limited (NASDAQ:DOX) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,263,591 shares of the technology company’s stock after purchasing an additional 87,801 shares during the period. Allspring Global Investments Holdings LLC owned approximately 2.89% of Amdocs worth $274,681,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of 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 buying an additional 428 shares during the period. Creative Planning lifted its stake in Amdocs by 37.3% during the 3rd quarter. Creative Planning now owns 15,111 shares of the technology company’s stock worth $1,322,000 after acquiring an additional 4,104 shares in the last quarter. Twelve Points Wealth Management LLC purchased a new position in Amdocs during the 3rd quarter valued at about $231,000. Inspire Advisors LLC grew its position in Amdocs by 85.8% in the 3rd quarter. Inspire Advisors LLC now owns 11,079 shares of the technology company’s stock valued at $969,000 after acquiring an additional 5,117 shares in the last quarter. Finally, Net Worth Advisory Group purchased a new stake in Amdocs during the third quarter worth about $264,000. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Stock Performance

NASDAQ:DOX opened at $86.32 on Wednesday. Amdocs Limited has a 12 month low of $74.41 and a 12 month high of $94.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20. The firm has a market capitalization of $9.74 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 1.41 and a beta of 0.71. The business’s fifty day moving average price is $85.90 and its 200 day moving average price is $86.48.

Amdocs (NASDAQ:DOX) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a return on equity of 18.89% and a net margin of 10.19%. On average, sell-side analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently commented on DOX. Barclays lowered their price objective on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Oppenheimer raised their price target on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, StockNews.com raised 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Amdocs has an average rating of “Buy” and a consensus price target of $101.20.

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.