Victory Capital Management Inc. Has $41.98 Million Stock Position in Amdocs Limited (NASDAQ:DOX)

Victory Capital Management Inc. lifted its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 3.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 493,047 shares of the technology company’s stock after acquiring an additional 14,910 shares during the period. Victory Capital Management Inc.’s holdings in Amdocs were worth $41,978,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of DOX. Van ECK Associates Corp raised its holdings in shares of Amdocs by 1.6% during the 3rd quarter. Van ECK Associates Corp now owns 36,463 shares of the technology company’s stock worth $3,269,000 after buying an additional 565 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Amdocs by 37.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 2,175 shares of the technology company’s stock worth $190,000 after buying an additional 598 shares in the last quarter. QRG Capital Management Inc. acquired a new position in shares of Amdocs during the 3rd quarter worth $208,000. Principal Financial Group Inc. raised its holdings in shares of Amdocs by 6.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,032,867 shares of the technology company’s stock worth $90,355,000 after buying an additional 63,718 shares in the last quarter. Finally, Executive Wealth Management LLC raised its holdings in shares of Amdocs by 14.2% during the 3rd quarter. Executive Wealth Management LLC now owns 84,106 shares of the technology company’s stock worth $7,358,000 after buying an additional 10,466 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DOX shares. StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Barclays lowered their target price on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Finally, Oppenheimer upped their target price on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $101.20.

Amdocs Price Performance

Shares of DOX opened at $90.46 on Friday. The business has a 50-day simple moving average of $86.36 and a two-hundred day simple moving average of $86.96. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $94.04. The stock has a market cap of $10.21 billion, a PE ratio of 20.99, a PEG ratio of 1.47 and a beta of 0.68. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22.

Amdocs (NASDAQ:DOX) last released 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%. Analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be given a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Monday, March 31st. This is a positive change from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s payout ratio is 48.72%.

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.