Raymond James Trust N.A. Purchases 129 Shares of Amdocs Limited (NASDAQ:DOX)

Raymond James Trust N.A. raised its position in shares of Amdocs Limited (NASDAQ:DOX) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,796 shares of the technology company’s stock after acquiring an additional 129 shares during the quarter. Raymond James Trust N.A.’s holdings in Amdocs were worth $457,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. GAMMA Investing LLC bought a new position in Amdocs during the fourth quarter worth $25,000. Norwood Financial Corp bought a new stake in Amdocs in the 1st quarter valued at about $33,000. Central Pacific Bank Trust Division acquired a new position in Amdocs during the 1st quarter worth approximately $53,000. Riverview Trust Co bought a new position in Amdocs in the first quarter worth approximately $55,000. Finally, Quarry LP grew its stake in Amdocs by 168.9% in the fourth quarter. Quarry LP now owns 656 shares of the technology company’s stock valued at $58,000 after acquiring an additional 412 shares during the period. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Price Performance

Shares of NASDAQ:DOX opened at $85.23 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.21. The stock has a market cap of $10.02 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The stock’s fifty day simple moving average is $82.11 and its two-hundred day simple moving average is $84.57. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $94.04.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.02. Amdocs had a net margin of 10.62% and a return on equity of 17.85%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the firm posted $1.41 EPS. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, analysts forecast that Amdocs Limited will post 5.72 EPS for the current fiscal year.

Amdocs Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 30th will be given a dividend of $0.479 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.92 annualized dividend and a yield of 2.25%. Amdocs’s payout ratio is currently 42.92%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Citigroup cut their target price on Amdocs from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. StockNews.com upgraded shares of Amdocs from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Finally, Robert W. Baird decreased their target price on shares of Amdocs from $97.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Amdocs currently has an average rating of “Buy” and an average target price of $102.50.

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.