Geode Capital Management LLC Purchases 38,460 Shares of Amdocs Limited (NASDAQ:DOX)

Geode Capital Management LLC increased its position in Amdocs Limited (NASDAQ:DOX) by 2.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,672,193 shares of the technology company’s stock after buying an additional 38,460 shares during the period. Geode Capital Management LLC owned about 1.48% of Amdocs worth $143,262,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp purchased a new position in shares of Amdocs in the fourth quarter worth $36,000. SBI Securities Co. Ltd. bought a new stake in Amdocs in the 4th quarter valued at $41,000. Global Retirement Partners LLC lifted its stake in Amdocs by 45.6% in the 4th quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock worth $48,000 after purchasing an additional 175 shares in the last quarter. Private Trust Co. NA boosted its holdings in shares of Amdocs by 121.5% during the 4th quarter. Private Trust Co. NA now owns 671 shares of the technology company’s stock valued at $57,000 after purchasing an additional 368 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Amdocs by 199.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 686 shares of the technology company’s stock valued at $59,000 after purchasing an additional 457 shares in the last quarter. Institutional investors own 92.02% of the company’s stock.

Amdocs Stock Down 1.9 %

Shares of NASDAQ:DOX opened at $82.08 on Tuesday. The company has a 50-day moving average price of $88.19 and a 200 day moving average price of $87.42. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. Amdocs Limited has a 12 month low of $74.41 and a 12 month high of $93.34. The company has a market cap of $9.27 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 1.47 and a beta of 0.59.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 earnings per share 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, equities research analysts predict that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be issued a $0.527 dividend. This represents a $2.11 annualized dividend and a dividend yield of 2.57%. 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 presently 48.72%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.20.

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.