Illinois Municipal Retirement Fund Has $8.22 Million Position in Amdocs Limited $DOX

Illinois Municipal Retirement Fund raised its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 17.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,991 shares of the technology company’s stock after purchasing an additional 18,745 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Amdocs were worth $8,222,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. WealthCollab LLC grew its holdings in shares of Amdocs by 94.5% during the third quarter. WealthCollab LLC now owns 356 shares of the technology company’s stock valued at $29,000 after buying an additional 173 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new stake in shares of Amdocs during the fourth quarter worth about $37,000. Los Angeles Capital Management LLC acquired a new stake in shares of Amdocs in the 4th quarter worth about $39,000. Advisory Services Network LLC acquired a new stake in shares of Amdocs in the 3rd quarter worth about $42,000. Finally, CIBC Private Wealth Group LLC lifted its position in Amdocs by 190.2% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 595 shares of the technology company’s stock valued at $49,000 after acquiring an additional 390 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DOX. Cfra downgraded Amdocs to a “sell” rating in a research note on Thursday, May 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Amdocs in a research note on Friday, May 8th. KeyCorp assumed coverage on Amdocs in a report on Monday, June 29th. They issued a “sector weight” rating on the stock. Stifel Nicolaus cut their target price on Amdocs from $88.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Finally, Wall Street Zen downgraded Amdocs from a “buy” rating to a “hold” rating in a report on Sunday, July 5th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $86.67.

Amdocs Trading Down 0.5%

Shares of DOX stock opened at $52.63 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 0.92 and a beta of 0.41. Amdocs Limited has a 52-week low of $49.79 and a 52-week high of $90.29. The company has a 50-day simple moving average of $56.61 and a two-hundred day simple moving average of $66.21.

Amdocs (NASDAQ:DOX) last posted its earnings results on Thursday, May 14th. The technology company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.77 by $0.01. Amdocs had a net margin of 11.81% and a return on equity of 19.77%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the firm earned $1.78 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Research analysts anticipate that Amdocs Limited will post 6.56 EPS for the current fiscal year.

Amdocs Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a dividend of $0.569 per share. This represents a $2.28 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Tuesday, June 30th. Amdocs’s dividend payout ratio (DPR) is 45.60%.

About Amdocs

Amdocs (NASDAQ: DOX) is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs’ product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra’anana, Israel.