Empirical Financial Services LLC d.b.a. Empirical Wealth Management Acquires 17,221 Shares of Amdocs Limited (NASDAQ:DOX)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Amdocs Limited (NASDAQ:DOX) by 16.4% in the 4th quarter, HoldingsChannel reports. The firm owned 122,470 shares of the technology company’s stock after purchasing an additional 17,221 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Amdocs were worth $10,427,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Private Trust Co. NA raised its position in Amdocs by 62.9% in the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock worth $27,000 after purchasing an additional 117 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Amdocs in the 3rd quarter valued at $28,000. Catalyst Capital Advisors LLC bought a new stake in shares of Amdocs during the third quarter worth $55,000. GAMMA Investing LLC lifted its stake in shares of Amdocs by 115.1% during the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after acquiring an additional 428 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Amdocs in the third quarter worth about $77,000. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Stock Up 0.8 %

Shares of NASDAQ:DOX opened at $85.28 on Monday. The company has a 50 day moving average price of $85.69 and a two-hundred day moving average price of $86.15. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market capitalization of $9.63 billion, a PE ratio of 20.11, a PEG ratio of 1.42 and a beta of 0.71. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04.

Amdocs Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a yield of 2.25%. The ex-dividend date is Tuesday, December 31st. Amdocs’s payout ratio is presently 45.28%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 14th. Oppenheimer lifted their target price on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Barclays dropped their target price 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. Finally, Stifel Nicolaus started coverage on Amdocs in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.20.

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.