Raymond James Trust N.A. Purchases 1,212 Shares of Amdocs Limited (NASDAQ:DOX)

Raymond James Trust N.A. lifted its position in Amdocs Limited (NASDAQ:DOX) by 20.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,008 shares of the technology company’s stock after buying an additional 1,212 shares during the period. Raymond James Trust N.A.’s holdings in Amdocs were worth $613,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in DOX. Pzena Investment Management LLC increased its position in Amdocs by 33.2% during the 2nd 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 during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Amdocs by 36.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company’s stock valued at $277,818,000 after purchasing an additional 851,022 shares in the last quarter. Vanguard Group Inc. increased its holdings in Amdocs by 39.5% during the first quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock valued at $183,771,000 after buying an additional 576,168 shares during the period. Brandes Investment Partners LP raised its stake 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 buying an additional 536,359 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in Amdocs by 36.2% during the 2nd quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company’s stock valued at $132,253,000 after acquiring an additional 444,966 shares in the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Stock Performance

Shares of Amdocs stock opened at $87.30 on Tuesday. The firm has a market capitalization of $10.26 billion, a P/E ratio of 20.63, a PEG ratio of 1.43 and a beta of 0.74. Amdocs Limited has a 52 week low of $74.41 and a 52 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. The company has a 50 day moving average price of $88.03 and a 200 day moving average price of $83.94.

Amdocs Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DOX shares. StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Barclays decreased their price target on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Oppenheimer lifted their price objective 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. Finally, Stifel Nicolaus began coverage on shares of Amdocs in a research report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 target price for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Amdocs currently has an average rating of “Moderate Buy” and an average target price of $101.83.

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.