Bank of Montreal Can Acquires 4,569 Shares of Amdocs Limited (NASDAQ:DOX)

Bank of Montreal Can raised its holdings in Amdocs Limited (NASDAQ:DOX) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 210,450 shares of the technology company’s stock after purchasing an additional 4,569 shares during the quarter. Bank of Montreal Can owned approximately 0.19% of Amdocs worth $17,918,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB lifted its position in Amdocs by 8.3% during the 4th quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company’s stock valued at $141,112,000 after purchasing an additional 127,426 shares during the period. Pacer Advisors Inc. raised its stake in shares of Amdocs by 7.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock worth $154,587,000 after buying an additional 125,654 shares during the last quarter. Dudley & Shanley Inc. lifted its holdings in Amdocs by 7.6% in the third quarter. Dudley & Shanley Inc. now owns 261,826 shares of the technology company’s stock valued at $22,905,000 after buying an additional 18,600 shares during the period. Range Financial Group LLC acquired a new position in Amdocs in the fourth quarter valued at approximately $1,376,000. Finally, Principal Financial Group Inc. boosted its stake in Amdocs by 6.6% in the third quarter. Principal Financial Group Inc. now owns 1,032,867 shares of the technology company’s stock valued at $90,355,000 after acquiring an additional 63,718 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.20.

Amdocs Stock Performance

Shares of Amdocs stock opened at $83.18 on Friday. 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 cap of $9.39 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 1.47 and a beta of 0.59. Amdocs Limited has a one year low of $74.41 and a one year high of $93.34. The stock’s 50-day moving average is $87.67 and its 200-day moving average is $87.26.

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

Amdocs Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.53%. This is an increase from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, March 31st. Amdocs’s dividend payout ratio is currently 48.72%.

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.