Raymond James & Associates Purchases 43,627 Shares of Amdocs Limited (NASDAQ:DOX)

Raymond James & Associates raised its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 9.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 501,104 shares of the technology company's stock after acquiring an additional 43,627 shares during the period. Raymond James & Associates owned approximately 0.43% of Amdocs worth $43,837,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Norwood Financial Corp bought a new position in Amdocs in the first quarter valued at about $33,000. Central Pacific Bank Trust Division purchased a new position in shares of Amdocs in the first quarter worth approximately $53,000. Riverview Trust Co bought a new stake in Amdocs during the first quarter valued at approximately $55,000. GAMMA Investing LLC increased its holdings in 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 buying an additional 428 shares during the last quarter. Finally, American National Bank bought a new position in Amdocs in the second quarter worth approximately $76,000. 92.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DOX has been the topic of several recent research reports. StockNews.com raised Amdocs from a "buy" rating to a "strong-buy" rating in a research note on Thursday, October 10th. Stifel Nicolaus initiated coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They set a "buy" rating and a $100.00 target price on the stock. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Amdocs currently has an average rating of "Buy" and an average price target of $102.00.

Amdocs Price Performance

DOX stock traded down $0.03 during trading on Wednesday, hitting $89.65. 327,800 shares of the company's stock traded hands, compared to its average volume of 678,559. The business has a fifty day simple moving average of $86.72 and a 200 day simple moving average of $83.53. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $10.54 billion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 1.42 and a beta of 0.74.

Amdocs (NASDAQ:DOX - Get Free Report) last released its 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 firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.25 billion. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 EPS. As a group, research analysts expect that Amdocs Limited will post 5.67 EPS for the current fiscal year.

Amdocs Announces Dividend

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

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.