Marks Group Wealth Management Inc Has $6.60 Million Stake in Amdocs Limited (NASDAQ:DOX)

Marks Group Wealth Management Inc raised its stake in Amdocs Limited (NASDAQ:DOX) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 75,075 shares of the technology company’s stock after buying an additional 915 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Amdocs were worth $6,598,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Illinois Municipal Retirement Fund raised its holdings in shares of Amdocs by 4.2% in the fourth quarter. Illinois Municipal Retirement Fund now owns 123,278 shares of the technology company’s stock valued at $10,835,000 after purchasing an additional 4,982 shares during the last quarter. New York State Common Retirement Fund grew its position in Amdocs by 6.1% in the 4th quarter. New York State Common Retirement Fund now owns 574,155 shares of the technology company’s stock worth $50,462,000 after purchasing an additional 32,921 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in Amdocs by 9.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 917,808 shares of the technology company’s stock valued at $80,666,000 after buying an additional 77,833 shares during the last quarter. Foster & Motley Inc. lifted its position in shares of Amdocs by 3.5% during the 4th quarter. Foster & Motley Inc. now owns 26,143 shares of the technology company’s stock worth $2,298,000 after buying an additional 884 shares in the last quarter. Finally, Duality Advisers LP boosted its stake in shares of Amdocs by 46.1% in the 4th quarter. Duality Advisers LP now owns 10,022 shares of the technology company’s stock worth $881,000 after buying an additional 3,162 shares during the last quarter. Institutional investors own 92.02% of the company’s stock.

Amdocs Price Performance

Amdocs stock opened at $86.57 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.21. The business’s 50 day simple moving average is $89.93 and its 200 day simple moving average is $87.33. Amdocs Limited has a 12 month low of $78.38 and a 12 month high of $99.75. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.40 and a beta of 0.69.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.16. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.33 EPS. Sell-side analysts forecast that Amdocs Limited will post 5.87 EPS for the current year.

Amdocs Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, March 29th will be given a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from Amdocs’s previous quarterly dividend of $0.44. Amdocs’s dividend payout ratio (DPR) is currently 41.11%.

Analyst Upgrades and Downgrades

DOX has been the subject of a number of research analyst reports. Barclays increased their price target on Amdocs from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Citigroup raised their target price on Amdocs from $96.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $108.60.

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.