Victory Capital Management Inc. Boosts Stake in Amdocs Limited (NASDAQ:DOX)

Victory Capital Management Inc. increased its position in shares of Amdocs Limited (NASDAQ:DOX) by 22.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 469,039 shares of the technology company’s stock after buying an additional 84,547 shares during the quarter. Victory Capital Management Inc. owned about 0.40% of Amdocs worth $37,017,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Natixis Advisors L.P. acquired a new position in Amdocs in the fourth quarter valued at $2,357,000. Private Advisor Group LLC increased its position in Amdocs by 58.7% in the 4th quarter. Private Advisor Group LLC now owns 5,491 shares of the technology company’s stock valued at $483,000 after acquiring an additional 2,031 shares during the period. Charles Schwab Investment Management Inc. increased its position in Amdocs by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 171,456 shares of the technology company’s stock valued at $15,069,000 after acquiring an additional 5,211 shares during the period. Principal Securities Inc. purchased a new stake in Amdocs during the 4th quarter valued at approximately $63,000. Finally, BNP Paribas Financial Markets lifted its position in Amdocs by 44.7% during the 4th quarter. BNP Paribas Financial Markets now owns 192,958 shares of the technology company’s stock worth $16,959,000 after acquiring an additional 59,639 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Trading Up 0.6 %

Shares of Amdocs stock opened at $85.40 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. The firm has a market cap of $10.04 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 1.51 and a beta of 0.74. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $94.04. The company’s 50-day simple moving average is $83.38 and its 200-day simple moving average is $84.34.

Amdocs (NASDAQ:DOX) last issued its earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.02. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the business posted $1.41 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts anticipate that Amdocs Limited will post 5.67 earnings per share for the current year.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be given a dividend of $0.479 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.92 annualized dividend and a dividend yield of 2.24%. Amdocs’s payout ratio is currently 43.15%.

Analyst Ratings Changes

Separately, StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $102.50.

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.