Amdocs Limited (NASDAQ:DOX) Shares Acquired by Corbyn Investment Management Inc. MD

Corbyn Investment Management Inc. MD increased its position in Amdocs Limited (NASDAQ:DOX) by 11.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 36,507 shares of the technology company’s stock after acquiring an additional 3,817 shares during the period. Amdocs makes up about 1.5% of Corbyn Investment Management Inc. MD’s investment portfolio, making the stock its 26th largest position. Corbyn Investment Management Inc. MD’s holdings in Amdocs were worth $3,209,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of DOX. GAMMA Investing LLC purchased a new stake in shares of Amdocs during the fourth quarter valued at $25,000. Operose Advisors LLC raised its position in Amdocs by 148.0% during the third quarter. Operose Advisors LLC now owns 310 shares of the technology company’s stock valued at $26,000 after buying an additional 185 shares during the period. Oakworth Capital Inc. acquired a new position in Amdocs during the fourth quarter valued at $26,000. VisionPoint Advisory Group LLC raised its position in Amdocs by 77.7% during the third quarter. VisionPoint Advisory Group LLC now owns 503 shares of the technology company’s stock valued at $42,000 after buying an additional 220 shares during the period. Finally, Allworth Financial LP raised its position in Amdocs by 16,840.0% during the third quarter. Allworth Financial LP now owns 847 shares of the technology company’s stock valued at $72,000 after buying an additional 842 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Analysts Set New Price Targets

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

Amdocs Stock Performance

Shares of DOX stock traded down $0.65 during mid-day trading on Friday, reaching $84.99. The stock had a trading volume of 218,013 shares, compared to its average volume of 644,784. The firm’s 50 day simple moving average is $89.75 and its 200 day simple moving average is $87.31. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.21. Amdocs Limited has a one year low of $78.38 and a one year high of $99.75. The firm has a market cap of $9.99 billion, a PE ratio of 18.34, a P/E/G 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 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.16. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the company earned $1.33 EPS. The company’s quarterly revenue was up 5.0% on a year-over-year basis. On average, analysts forecast that Amdocs Limited will post 5.87 EPS for the current year.

Amdocs Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, March 29th will be given a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from Amdocs’s previous quarterly dividend of $0.44. Amdocs’s dividend payout ratio (DPR) is 41.11%.

About Amdocs

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.