Sage Private Wealth Group LLC Purchases 17,102 Shares of Amdocs Limited $DOX

Sage Private Wealth Group LLC acquired a new position in shares of Amdocs Limited (NASDAQ:DOX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 17,102 shares of the technology company’s stock, valued at approximately $978,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Pzena Investment Management LLC raised its position in shares of Amdocs by 5.4% during the first quarter. Pzena Investment Management LLC now owns 12,681,089 shares of the technology company’s stock valued at $827,568,000 after buying an additional 644,074 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Amdocs by 19.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,463,797 shares of the technology company’s stock worth $226,045,000 after buying an additional 571,036 shares in the last quarter. Bank of America Corp DE grew its position in Amdocs by 29.1% during the first quarter. Bank of America Corp DE now owns 1,262,263 shares of the technology company’s stock worth $82,375,000 after buying an additional 284,435 shares in the last quarter. Renaissance Technologies LLC grew its position in Amdocs by 429.6% during the first quarter. Renaissance Technologies LLC now owns 291,800 shares of the technology company’s stock worth $19,043,000 after buying an additional 236,700 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in Amdocs by 152.3% during the second quarter. Tidal Investments LLC now owns 272,345 shares of the technology company’s stock valued at $13,764,000 after acquiring an additional 164,415 shares during the period. Institutional investors own 92.02% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on DOX shares. Weiss Ratings lowered Amdocs from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. KeyCorp began coverage on Amdocs in a research report on Monday, June 29th. They issued a “sector weight” rating for the company. Finally, Wall Street Zen upgraded Amdocs from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Amdocs currently has an average rating of “Hold” and an average price target of $86.67.

Amdocs Stock Up 0.3%

DOX opened at $61.60 on Thursday. Amdocs Limited has a fifty-two week low of $49.74 and a fifty-two week high of $85.63. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.94. The firm’s fifty day moving average price is $60.14 and its two-hundred day moving average price is $59.14. The company has a market capitalization of $6.65 billion, a P/E ratio of 14.67, a P/E/G ratio of 0.98 and a beta of 0.44.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Thursday, August 6th. The technology company reported $1.84 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.84. Amdocs had a net margin of 9.75% and a return on equity of 20.28%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the firm posted $1.72 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts anticipate that Amdocs Limited will post 6.56 EPS for the current year.

Amdocs Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.5690 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Wednesday, September 30th. Amdocs’s payout ratio is 54.05%.

About Amdocs

Amdocs Ltd. (NASDAQ: DOX) is a global provider of software and technology services for communications, media and entertainment companies. Its solutions help service providers manage customer relationships, billing, subscriptions, product offerings and digital experiences across consumer and enterprise markets.

The company’s portfolio includes business support systems and operational support systems, cloud-based software, artificial intelligence and automation tools, network and service management platforms, and solutions for media distribution and monetization.