Stifel Financial Corp Boosts Stock Position in Amdocs Limited (NASDAQ:DOX)

Stifel Financial Corp raised its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,010,942 shares of the technology company's stock after buying an additional 17,634 shares during the quarter. Stifel Financial Corp owned about 0.86% of Amdocs worth $88,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quantinno Capital Management LP grew its position in shares of Amdocs by 10.7% during the third quarter. Quantinno Capital Management LP now owns 88,795 shares of the technology company's stock valued at $7,768,000 after purchasing an additional 8,581 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in Amdocs by 77.1% during the third quarter. Integrated Wealth Concepts LLC now owns 19,379 shares of the technology company's stock valued at $1,695,000 after buying an additional 8,439 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Amdocs by 1.7% during the 3rd quarter. Janus Henderson Group PLC now owns 6,625,875 shares of the technology company's stock valued at $579,632,000 after buying an additional 111,357 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Amdocs by 123.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 759,136 shares of the technology company's stock worth $66,409,000 after acquiring an additional 419,045 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of Amdocs by 2.1% during the 3rd quarter. HighTower Advisors LLC now owns 12,813 shares of the technology company's stock worth $1,122,000 after acquiring an additional 265 shares in the last quarter. Institutional investors own 92.02% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DOX. StockNews.com cut Amdocs from a "strong-buy" rating to a "buy" rating in a research note on Thursday, November 14th. Oppenheimer boosted their target price on Amdocs from $98.00 to $105.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Stifel Nicolaus initiated coverage on Amdocs in a research report on Wednesday, October 2nd. They issued a "buy" rating and a $100.00 price target for the company. Finally, Barclays cut their price objective on shares of Amdocs from $113.00 to $111.00 and set an "overweight" rating on the stock in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $101.20.

Amdocs Stock Down 0.5 %

NASDAQ:DOX traded down $0.41 during midday trading on Friday, reaching $86.64. 779,784 shares of the stock traded hands, compared to its average volume of 678,839. The stock has a market capitalization of $10.18 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 1.46 and a beta of 0.72. Amdocs Limited has a 12-month low of $74.41 and a 12-month 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 1.20. The business has a 50-day moving average of $88.12 and a two-hundred day moving average of $84.25.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.479 dividend. This represents a $1.92 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs's dividend payout ratio is presently 45.28%.

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.