HighTower Advisors LLC Raises Stake in Amdocs Limited (NASDAQ:DOX)

HighTower Advisors LLC lifted its position in shares of Amdocs Limited (NASDAQ:DOX) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,813 shares of the technology company’s stock after buying an additional 265 shares during the quarter. HighTower Advisors LLC’s holdings in Amdocs were worth $1,122,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DOX. Blue Trust Inc. grew its holdings in shares of Amdocs by 18.0% during the second quarter. Blue Trust Inc. now owns 1,138 shares of the technology company’s stock worth $90,000 after buying an additional 174 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Amdocs by 15.8% during the second quarter. Raymond James & Associates now owns 457,477 shares of the technology company’s stock worth $36,104,000 after buying an additional 62,460 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Amdocs by 10.3% in the second quarter. Fifth Third Bancorp now owns 10,712 shares of the technology company’s stock worth $845,000 after acquiring an additional 996 shares during the last quarter. Lecap Asset Management Ltd. boosted its position in shares of Amdocs by 9.6% in the second quarter. Lecap Asset Management Ltd. now owns 18,640 shares of the technology company’s stock worth $1,471,000 after acquiring an additional 1,638 shares during the last quarter. Finally, American National Bank acquired a new stake in shares of Amdocs in the second quarter worth approximately $76,000. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on DOX shares. StockNews.com cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Oppenheimer raised their target price on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Stifel Nicolaus initiated coverage on shares of Amdocs in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 target price on the stock. Finally, Barclays reduced their price target on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Amdocs currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.20.

Amdocs Trading Down 0.1 %

Shares of DOX stock opened at $87.18 on Tuesday. The stock has a market cap of $10.25 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 1.45 and a beta of 0.72. The firm’s 50 day moving average price is $88.05 and its two-hundred day moving average price is $84.55. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $94.04. The company has a quick ratio of 1.24, a current ratio of 1.20 and a debt-to-equity ratio of 0.21.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.479 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.20%. Amdocs’s dividend payout ratio is currently 45.05%.

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.