Summit Global Investments Makes New $1.81 Million Investment in Amdocs Limited (NASDAQ:DOX)

Summit Global Investments bought a new position in shares of Amdocs Limited (NASDAQ:DOX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,300 shares of the technology company’s stock, valued at approximately $1,813,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in DOX. OneDigital Investment Advisors LLC acquired a new position in shares of Amdocs during the 3rd quarter worth approximately $223,000. Empowered Funds LLC grew its position in shares of Amdocs by 23.7% during the 3rd quarter. Empowered Funds LLC now owns 13,105 shares of the technology company’s stock worth $1,146,000 after purchasing an additional 2,510 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of Amdocs by 1.3% during the 3rd quarter. Natixis Advisors LLC now owns 27,592 shares of the technology company’s stock worth $2,414,000 after acquiring an additional 346 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Amdocs during the 3rd quarter worth approximately $2,911,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Amdocs by 5.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 207,137 shares of the technology company’s stock worth $18,120,000 after acquiring an additional 11,179 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $101.20.

Amdocs Stock Performance

NASDAQ DOX opened at $88.27 on Friday. The firm has a market capitalization of $9.96 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 1.47 and a beta of 0.68. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. The firm’s 50 day simple moving average is $87.21 and its 200 day simple moving average is $87.16. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $93.34.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. As a group, research analysts expect that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 31st will be paid a $0.527 dividend. This is an increase from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 2.39%. Amdocs’s dividend payout ratio is presently 48.72%.

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.