Raymond James Trust N.A. Increases Stock Position in Amdocs Limited (NASDAQ:DOX)

Raymond James Trust N.A. grew its position in shares of Amdocs Limited (NASDAQ:DOX) by 20.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,008 shares of the technology company’s stock after purchasing an additional 1,212 shares during the period. Raymond James Trust N.A.’s holdings in Amdocs were worth $613,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Pzena Investment Management LLC raised its stake in Amdocs by 33.2% during the second quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock valued at $447,287,000 after purchasing an additional 1,412,826 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Amdocs by 36.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company’s stock valued at $277,818,000 after buying an additional 851,022 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Amdocs by 39.5% in the 1st quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock valued at $183,771,000 after acquiring an additional 576,168 shares during the last quarter. Brandes Investment Partners LP grew its position in Amdocs by 31.1% in the second quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock worth $178,335,000 after acquiring an additional 536,359 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in Amdocs by 36.2% during the second quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company’s stock worth $132,253,000 after acquiring an additional 444,966 shares during the last quarter. 92.02% of the stock is owned by institutional investors.

Amdocs Stock Up 1.9 %

NASDAQ:DOX opened at $87.30 on Tuesday. The company has a market cap of $10.26 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 1.43 and a beta of 0.74. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $94.04. The company has a current ratio of 1.20, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $88.03 and a 200-day simple moving average of $83.94.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.479 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a yield of 2.19%. Amdocs’s dividend payout ratio is currently 45.05%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus initiated coverage on Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price objective for the company. Barclays dropped their price objective on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Oppenheimer lifted their price target on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Amdocs currently has a consensus rating of “Moderate Buy” and an average target price of $101.83.

Amdocs Company 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.