In the second quarter of this year, PFG Advisors, an institutional investor, made a significant investment in Amdocs Limited (NASDAQ:DOX), according to its most recent disclosure with the Securities & Exchange Commission. This move involved the purchase of 3,247 shares of the technology company’s stock, valued at approximately $321,000.
Amdocs Limited is a prominent global provider of software and services for communications and media companies. Their solutions are primarily aimed at enhancing digital customer experiences and streamlining operational processes.
This recent purchase by PFG Advisors indicates their confidence in Amdocs’ growth potential and solidifies their position as one of the company’s key stakeholders. By acquiring these additional shares, PFG Advisors aligns itself strategically with Amdocs’ future objectives and aspirations.
It is worth noting that Amdocs declared a quarterly dividend recently. This dividend is scheduled to be paid on Friday, October 27th. Investors who held shares as of Friday, September 29th will receive a dividend of $0.435 per share. However, it is important to mention that to qualify for this dividend payment, investors must have owned the shares before Thursday, September 28th – the ex-dividend date.
If we consider this dividend on an annualized basis, it amounts to be $1.74 per share. Additionally, this translates into a dividend yield of 2.07% based on the current stock price.
Amdocs has maintained a consistent payout ratio when it comes to dividends over time. The company’s current payout ratio stands at 37.26%, which indicates that they distribute a moderate portion of their earnings back to shareholders in the form of dividends.
Dividends play an essential role in attracting investors by providing them with steady income streams apart from capital appreciation potential. These regular payments serve as indicators of financial stability and shareholder-friendly policies adopted by companies.
As for PFG Advisors, their decision to invest in Amdocs reflects confidence in the company’s long-term growth prospects and solid financial performance. By acquiring additional shares, they are positioning themselves to benefit from potential future successes and value appreciation.
In conclusion, PFG Advisors has acquired a new stake in Amdocs Limited, signaling their belief in the company’s potential. This move highlights Amdocs’ position as an attractive investment opportunity within the technology sector. Moreover, the recent quarterly dividend announced by Amdocs further emphasizes its commitment to rewarding shareholders. As we approach the ex-dividend date and subsequent payment, investors will be closely monitoring the company’s performance and anticipating further developments.
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Hedge Funds and Institutional Investors Adjust Stakes in Amdocs as Research Firms Offer Positive Outlook
In recent months, several hedge funds and institutional investors have made moves to adjust their stakes in Amdocs, a prominent technology company. Signature Estate & Investment Advisors LLC, for instance, increased its holdings in Amdocs by 2.8% during the second quarter. The firm now owns over 26,000 shares of the company’s stock valued at $2.6 million after purchasing an additional 726 shares.
Another notable investor, Marks Group Wealth Management Inc, also increased its holdings in Amdocs during the same period. The firm now owns over 73,000 shares of the technology company’s stock valued at $7.3 million after buying an additional 684 shares.
Allspring Global Investments Holdings LLC also saw a slight increase in its holdings in Amdocs by 0.8% during the second quarter, now owning approximately 4.9 million shares of the company’s stock valued at over $483 million.
Wedge Capital Management L L P NC joined this trend as well and increased its holdings in Amdocs by 4.5%. Their current position stands at over 800k shares valued at $80.8 million.
Finally, Sawgrass Asset Management LLC boosted its position in Amdocs by 9.7%, now owning nearly 10k shares of the technology company’s stock worth $977k.
Overall, it is worth noting that approximately 90.58% of Amdocs’ stock is owned by hedge funds and other institutional investors.
In addition to these changes in ownership, multiple research firms have offered their input on Amdocs’ performance and outlook. StockNews.com recently initiated coverage on the company with a “buy” rating recommendation. Bank of America analysts have raised their price target for Amdocs from $100 to $110 and Oppenheimer has increased their own price target from $99 to $109 while labeling the stock as an “outperform.”
Currently, Amdocs’ stock trades on the NASDAQ platform under the ticker symbol “DOX.” On Tuesday, October 3, shares opened at $84. The company has a debt-to-equity ratio of 0.21 and a current ratio of 1.50, suggesting a strong financial position.
Amdocs’ movement over time is also of interest. It has been observed that the firm’s fifty-day moving average price stands at $88.51, while its two-hundred-day moving average sits slightly higher at $92.44.
The company’s market capitalization is approximately $10.15 billion with a price-to-earnings ratio of 17.99 and a P/E/G ratio of 1.45. Amdocs’ beta, which measures a stock’s volatility in relation to the overall market, is calculated at a moderate 0.67.
In terms of recent earnings, Amdocs released its most recent results on Wednesday, August 2nd. The technology company disclosed an earnings per share figure of $1.41 for the quarter, surpassing analysts’ expectations by $0.08 per share. Furthermore, Amdocs achieved a net margin of 11.80% and displayed a return on equity of 17.60%.