Envestnet Portfolio Solutions Inc. Increases Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Envestnet Portfolio Solutions Inc. boosted its position in shares of Amdocs Limited (NASDAQ:DOX) by 21.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 33,957 shares of the technology company’s stock after buying an additional 5,928 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Amdocs were worth $2,891,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. lifted its holdings in Amdocs by 1.9% in the third quarter. First Horizon Advisors Inc. now owns 5,902 shares of the technology company’s stock valued at $516,000 after acquiring an additional 109 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Amdocs by 62.9% in the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after purchasing an additional 117 shares during the last quarter. Principal Securities Inc. lifted its stake in shares of Amdocs by 10.4% in the 4th quarter. Principal Securities Inc. now owns 1,341 shares of the technology company’s stock valued at $114,000 after purchasing an additional 126 shares during the last quarter. Morton Community Bank grew its holdings in shares of Amdocs by 0.4% during the 3rd quarter. Morton Community Bank now owns 36,410 shares of the technology company’s stock worth $3,185,000 after purchasing an additional 130 shares during the period. Finally, Global Retirement Partners LLC increased its position in shares of Amdocs by 45.6% during 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 during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Amdocs Trading Down 0.1 %

Shares of NASDAQ DOX opened at $89.19 on Thursday. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $10.07 billion, a PE ratio of 20.69, a PEG ratio of 1.47 and a beta of 0.68. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $93.34. The stock has a fifty day simple moving average of $87.00 and a 200-day simple moving average of $87.14.

Amdocs (NASDAQ:DOX) last released 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 net margin of 10.19% and a return on equity of 18.89%. On average, equities analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.527 per share. The ex-dividend date is Monday, March 31st. This is a positive change from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 dividend on an annualized basis and a yield of 2.36%. Amdocs’s dividend 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.