Amdocs Limited (NASDAQ:DOX) Shares Acquired by Raymond James & Associates

Raymond James & Associates increased its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 9.5% during the third quarter, Holdings Channel.com reports. The fund owned 501,104 shares of the technology company’s stock after buying an additional 43,627 shares during the period. Raymond James & Associates’ holdings in Amdocs were worth $43,837,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wasatch Advisors LP acquired a new stake in shares of Amdocs in the first quarter valued at about $1,943,000. State Board of Administration of Florida Retirement System raised its holdings in shares of Amdocs by 7.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 166,927 shares of the technology company’s stock valued at $16,030,000 after acquiring an additional 12,178 shares during the last quarter. Boston Trust Walden Corp lifted its position in shares of Amdocs by 17.0% in the second quarter. Boston Trust Walden Corp now owns 618,387 shares of the technology company’s stock valued at $48,803,000 after acquiring an additional 89,726 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Amdocs by 402.4% in the second quarter. SG Americas Securities LLC now owns 154,968 shares of the technology company’s stock worth $12,230,000 after acquiring an additional 124,122 shares during the last quarter. Finally, Sargent Investment Group LLC purchased a new stake in shares of Amdocs during the second quarter worth approximately $289,000. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Trading Down 0.7 %

Shares of DOX opened at $89.68 on Wednesday. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $94.04. The firm has a market capitalization of $10.54 billion, a P/E ratio of 20.15, a P/E/G ratio of 1.42 and a beta of 0.74. The firm has a 50-day moving average price of $86.72 and a 200 day moving average price of $83.53. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.02. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Amdocs had a net margin of 10.21% and a return on equity of 17.89%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.41 EPS. Sell-side analysts forecast that Amdocs Limited will post 5.67 EPS for the current year.

Amdocs Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be given a $0.479 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.92 dividend on an annualized basis and a yield of 2.14%. Amdocs’s dividend payout ratio is currently 42.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. StockNews.com raised shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Stifel Nicolaus began coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price objective for the company. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Amdocs presently has a consensus rating of “Buy” and a consensus target price of $102.00.

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.