Causeway Capital Management LLC Takes Position in Amdocs Limited (NASDAQ:DOX)

Causeway Capital Management LLC purchased a new position in shares of Amdocs Limited (NASDAQ:DOX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,390 shares of the technology company’s stock, valued at approximately $544,000.

Other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in shares of Amdocs by 8.3% during the fourth quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company’s stock worth $141,112,000 after acquiring an additional 127,426 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Amdocs by 7.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock valued at $154,587,000 after buying an additional 125,654 shares during the last quarter. Dudley & Shanley Inc. grew its holdings in shares of Amdocs by 7.6% during the third quarter. Dudley & Shanley Inc. now owns 261,826 shares of the technology company’s stock worth $22,905,000 after buying an additional 18,600 shares during the last quarter. Range Financial Group LLC acquired a new position in Amdocs in the 4th quarter valued at about $1,376,000. Finally, Principal Financial Group Inc. raised its stake in Amdocs by 6.6% during the 3rd 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.

Amdocs Trading Up 1.2 %

Shares of DOX stock opened at $83.18 on Monday. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $93.34. The firm’s 50-day simple moving average is $87.67 and its 200-day simple moving average is $87.26. The firm has a market cap of $9.39 billion, a P/E ratio of 19.30, a PEG ratio of 1.47 and a beta of 0.59. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20.

Amdocs (NASDAQ:DOX) last announced its quarterly 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 return on equity of 18.89% and a net margin of 10.19%. As a group, equities analysts forecast that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be paid a $0.527 dividend. The ex-dividend date of this dividend is Monday, March 31st. 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 2.53%. Amdocs’s dividend payout ratio is 48.72%.

Wall Street Analyst Weigh In

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

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.