Gallacher Capital Management LLC Takes Position in Amdocs Limited (NASDAQ:DOX)

Gallacher Capital Management LLC acquired a new position in shares of Amdocs Limited (NASDAQ:DOX) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 4,728 shares of the technology company’s stock, valued at approximately $416,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Xponance Inc. increased its position in shares of Amdocs by 8.4% in the 3rd quarter. Xponance Inc. now owns 4,469 shares of the technology company’s stock valued at $378,000 after buying an additional 348 shares in the last quarter. Raymond James & Associates increased its position in shares of Amdocs by 3.2% during the third quarter. Raymond James & Associates now owns 388,941 shares of the technology company’s stock worth $32,862,000 after acquiring an additional 12,148 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Amdocs by 3.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,599 shares of the technology company’s stock worth $473,000 after acquiring an additional 191 shares during the period. Bank of New York Mellon Corp lifted its position in Amdocs by 9.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 365,317 shares of the technology company’s stock valued at $30,866,000 after acquiring an additional 31,676 shares in the last quarter. Finally, Strs Ohio acquired a new position in Amdocs in the 3rd quarter worth $10,876,000. Institutional investors own 92.02% of the company’s stock.

Amdocs Stock Performance

Amdocs stock traded up $1.05 during mid-day trading on Monday, hitting $84.95. 576,473 shares of the company’s stock traded hands, compared to its average volume of 655,796. Amdocs Limited has a fifty-two week low of $78.38 and a fifty-two week high of $99.75. The stock has a market cap of $9.99 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 1.36 and a beta of 0.70. The firm has a 50 day simple moving average of $88.95 and a two-hundred day simple moving average of $87.47. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.29 and a quick ratio of 1.29.

Amdocs (NASDAQ:DOX) last posted its earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.16. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the firm earned $1.33 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. On average, research analysts expect that Amdocs Limited will post 5.87 EPS for the current fiscal year.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, March 29th were given a $0.479 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.26%. This is a boost from Amdocs’s previous quarterly dividend of $0.44. Amdocs’s dividend payout ratio (DPR) is presently 41.11%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. StockNews.com cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 15th. 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. Finally, Citigroup upped their price objective on Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average 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.