Howe & Rusling Inc. Buys 12,447 Shares of Amdocs Limited (NASDAQ:DOX)

Howe & Rusling Inc. raised its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 13.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 104,543 shares of the technology company's stock after acquiring an additional 12,447 shares during the period. Howe & Rusling Inc. owned 0.09% of Amdocs worth $9,145,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in DOX. Catalyst Capital Advisors LLC acquired a new position in shares of Amdocs during the third quarter worth approximately $55,000. GAMMA Investing LLC boosted its holdings in shares of Amdocs by 115.1% during the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company's stock worth $70,000 after purchasing an additional 428 shares during the period. American National Bank purchased a new position in shares of Amdocs during the 2nd quarter valued at $76,000. Meeder Asset Management Inc. acquired a new position in Amdocs in the 3rd quarter worth about $77,000. Finally, Blue Trust Inc. raised its position in Amdocs by 18.0% during the second quarter. Blue Trust Inc. now owns 1,138 shares of the technology company's stock valued at $90,000 after acquiring an additional 174 shares in the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Stifel Nicolaus started coverage on shares of Amdocs in a research report on Wednesday, October 2nd. They issued a "buy" rating and a $100.00 price objective for the company. Oppenheimer raised 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. StockNews.com cut Amdocs from a "strong-buy" rating to a "buy" rating in a report on Thursday, November 14th. Finally, Barclays reduced their price objective on shares of Amdocs from $113.00 to $111.00 and set an "overweight" rating on the stock in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Amdocs currently has a consensus rating of "Moderate Buy" and an average target price of $101.83.

Amdocs Stock Up 1.0 %

Shares of DOX traded up $0.79 during trading hours on Wednesday, hitting $83.73. The company had a trading volume of 565,805 shares, compared to its average volume of 683,192. The firm has a fifty day moving average price of $88.07 and a 200-day moving average price of $83.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.20. The stock has a market capitalization of $9.84 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 1.39 and a beta of 0.74. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $94.04.

Amdocs Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Tuesday, December 31st. Amdocs's dividend payout ratio (DPR) is presently 45.28%.

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.