Magnetar Financial LLC Grows Position in Amdocs Limited (NASDAQ:DOX)

Magnetar Financial LLC raised its stake in Amdocs Limited (NASDAQ:DOX) by 513.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,276 shares of the technology company’s stock after buying an additional 21,154 shares during the period. Magnetar Financial LLC’s holdings in Amdocs were worth $2,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Pzena Investment Management LLC boosted its position in Amdocs by 0.4% in the 1st quarter. Pzena Investment Management LLC now owns 4,254,777 shares of the technology company’s stock valued at $384,504,000 after buying an additional 15,264 shares during the period. Vanguard Group Inc. boosted its position in Amdocs by 39.5% in the 1st quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock valued at $183,771,000 after buying an additional 576,168 shares during the period. Dimensional Fund Advisors LP boosted its position in Amdocs by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,007,777 shares of the technology company’s stock valued at $176,464,000 after buying an additional 94,856 shares during the period. Brandes Investment Partners LP boosted its position in Amdocs by 22.1% in the 4th quarter. Brandes Investment Partners LP now owns 1,402,646 shares of the technology company’s stock valued at $123,279,000 after buying an additional 254,304 shares during the period. Finally, Acadian Asset Management LLC boosted its position in Amdocs by 22.7% in the 1st quarter. Acadian Asset Management LLC now owns 1,395,894 shares of the technology company’s stock valued at $126,119,000 after buying an additional 258,343 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on DOX shares. Citigroup reduced their price target on shares of Amdocs from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Robert W. Baird reduced their price target on shares of Amdocs from $97.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.80.

Amdocs Stock Up 2.4 %

Shares of NASDAQ DOX traded up $2.01 during trading hours on Friday, hitting $86.92. 844,071 shares of the stock were exchanged, compared to its average volume of 673,001. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.21. The company has a market cap of $10.22 billion, a PE ratio of 19.53, a PEG ratio of 1.53 and a beta of 0.74. The firm has a fifty day moving average price of $79.36 and a 200-day moving average price of $85.74. Amdocs Limited has a 12 month low of $74.41 and a 12 month high of $96.24.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Wednesday, May 8th. The technology company reported $1.38 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.05). Amdocs had a return on equity of 17.85% and a net margin of 10.62%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.25 billion. On average, sell-side analysts expect that Amdocs Limited will post 5.72 EPS for the current year.

Amdocs Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, June 28th were issued a $0.479 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Friday, June 28th. Amdocs’s dividend payout ratio (DPR) is currently 43.15%.

Amdocs 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.