Range Financial Group LLC Acquires New Holdings in Amdocs Limited (NASDAQ:DOX)

Range Financial Group LLC acquired a new stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 16,159 shares of the technology company's stock, valued at approximately $1,376,000.

Several other institutional investors and hedge funds have also recently modified their holdings of DOX. Sargent Investment Group LLC purchased a new position in shares of Amdocs in the second quarter valued at $289,000. Mirabella Financial Services LLP increased its holdings in shares of Amdocs by 204.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 14,302 shares of the technology company's stock worth $1,250,000 after buying an additional 9,600 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Amdocs by 34.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 145,556 shares of the technology company's stock valued at $12,733,000 after buying an additional 37,516 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Amdocs by 1.9% in the 3rd quarter. Victory Capital Management Inc. now owns 478,137 shares of the technology company's stock valued at $41,827,000 after acquiring an additional 9,098 shares during the last quarter. Finally, Vaughan David Investments LLC IL grew its position in Amdocs by 5.5% in the second quarter. Vaughan David Investments LLC IL now owns 405,252 shares of the technology company's stock worth $31,982,000 after acquiring an additional 21,157 shares in the last quarter. Institutional investors own 92.02% of the company's stock.

Amdocs Trading Down 0.3 %

Shares of NASDAQ DOX traded down $0.29 during mid-day trading on Tuesday, reaching $84.18. The company had a trading volume of 478,589 shares, compared to its average volume of 484,322. The stock has a market cap of $9.50 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 1.45 and a beta of 0.71. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The business's 50-day moving average is $87.03 and its 200-day moving average is $85.57. The company has a current ratio of 1.20, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 dividend yield of 2.28%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs's dividend payout ratio (DPR) is presently 45.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. StockNews.com raised Amdocs from a "buy" rating to a "strong-buy" rating in a research note on Monday. Stifel Nicolaus started 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. Barclays reduced their target price 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. Finally, Oppenheimer lifted their price target on shares of Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Amdocs presently has an average rating of "Buy" and an average target price 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.