Denali Advisors LLC Has $601,000 Stake in Amdocs Limited (NASDAQ:DOX)

Denali Advisors LLC lifted its stake in Amdocs Limited (NASDAQ:DOX) by 10.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,611 shares of the technology company’s stock after purchasing an additional 700 shares during the quarter. Denali Advisors LLC’s holdings in Amdocs were worth $601,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norwood Financial Corp bought a new stake in shares of Amdocs during the 1st quarter valued at $33,000. Central Pacific Bank Trust Division acquired a new position in Amdocs in the first quarter valued at about $53,000. Riverview Trust Co bought a new stake in Amdocs during the first quarter worth about $55,000. Quarry LP grew its stake in Amdocs by 168.9% during the fourth quarter. Quarry LP now owns 656 shares of the technology company’s stock worth $58,000 after buying an additional 412 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in Amdocs in the 4th quarter valued at about $63,000. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Stock Performance

Amdocs stock opened at $86.41 on Wednesday. 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 stock has a market cap of $10.16 billion, a PE ratio of 19.42, a P/E/G ratio of 1.52 and a beta of 0.74. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $94.04. The business’s 50-day moving average price is $84.41 and its two-hundred day moving average price is $84.07.

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

Amdocs Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs’s payout ratio is 42.92%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 13th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target 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.