HighTower Advisors LLC Buys 2,561 Shares of Amdocs Limited (NASDAQ:DOX)

HighTower Advisors LLC grew its stake in shares of Amdocs Limited (NASDAQ:DOX) by 20.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 15,374 shares of the technology company’s stock after acquiring an additional 2,561 shares during the quarter. HighTower Advisors LLC’s holdings in Amdocs were worth $1,309,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Pzena Investment Management LLC lifted its position in Amdocs by 4.3% during the fourth quarter. Pzena Investment Management LLC now owns 6,634,549 shares of the technology company’s stock worth $564,866,000 after purchasing an additional 270,810 shares during the period. Morton Community Bank lifted its holdings in shares of Amdocs by 4.0% during the 4th quarter. Morton Community Bank now owns 37,855 shares of the technology company’s stock worth $3,223,000 after acquiring an additional 1,445 shares during the period. Moran Wealth Management LLC boosted its position in shares of Amdocs by 3.6% during the 4th quarter. Moran Wealth Management LLC now owns 7,818 shares of the technology company’s stock worth $666,000 after acquiring an additional 270 shares in the last quarter. Isthmus Partners LLC increased its stake in Amdocs by 19.4% in the fourth quarter. Isthmus Partners LLC now owns 4,429 shares of the technology company’s stock valued at $377,000 after acquiring an additional 720 shares during the last quarter. Finally, Amundi raised its position in Amdocs by 46.8% during the fourth quarter. Amundi now owns 7,962 shares of the technology company’s stock valued at $670,000 after purchasing an additional 2,540 shares in the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Price Performance

Shares of NASDAQ:DOX opened at $90.42 on Wednesday. The firm has a 50 day simple moving average of $87.46 and a 200 day simple moving average of $87.23. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 1.47 and a beta of 0.68. Amdocs Limited has a one year low of $74.41 and a one year high of $93.34. 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 released its quarterly earnings data 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%. Research analysts predict that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The company 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 $0.527 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 2.33%. This is an increase from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s dividend payout ratio is currently 48.72%.

Wall Street Analyst Weigh In

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