OLD National Bancorp IN Takes $254,000 Position in Amdocs Limited (NASDAQ:DOX)

OLD National Bancorp IN purchased a new stake in Amdocs Limited (NASDAQ:DOX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,891 shares of the technology company’s stock, valued at approximately $254,000.

Other large investors have also made changes to their positions in the company. Oakworth Capital Inc. purchased a new position in Amdocs in the fourth quarter worth approximately $26,000. Operose Advisors LLC grew its position in Amdocs by 148.0% in the third quarter. Operose Advisors LLC now owns 310 shares of the technology company’s stock worth $26,000 after acquiring an additional 185 shares during the period. VisionPoint Advisory Group LLC grew its position in Amdocs by 77.7% in the third quarter. VisionPoint Advisory Group LLC now owns 503 shares of the technology company’s stock worth $42,000 after acquiring an additional 220 shares during the period. Allworth Financial LP grew its position in Amdocs by 16,840.0% in the third quarter. Allworth Financial LP now owns 847 shares of the technology company’s stock worth $72,000 after acquiring an additional 842 shares during the period. Finally, Quent Capital LLC grew its position in Amdocs by 27.3% in the fourth quarter. Quent Capital LLC now owns 1,148 shares of the technology company’s stock worth $101,000 after acquiring an additional 246 shares during the period. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Citigroup increased their price objective on Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Barclays upped their price target on Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Finally, StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 15th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $108.60.

Amdocs Stock Down 1.3 %

NASDAQ:DOX opened at $85.64 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.21. The stock’s fifty day moving average is $89.75 and its two-hundred day moving average is $87.31. Amdocs Limited has a 52 week low of $78.38 and a 52 week high of $99.75. The stock has a market capitalization of $10.07 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 1.41 and a beta of 0.69.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.16. The business 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 company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the firm earned $1.33 earnings per share. Research analysts anticipate that Amdocs Limited will post 5.87 EPS for the current year.

Amdocs Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, March 29th will be paid a $0.479 dividend. This is a boost from Amdocs’s previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Wednesday, March 27th. Amdocs’s dividend payout ratio (DPR) is presently 41.11%.

Amdocs Company Profile

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.