Amdocs Limited (NASDAQ:DOX) Position Increased by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. increased its stake in Amdocs Limited (NASDAQ:DOX) by 22.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,862 shares of the technology company’s stock after purchasing an additional 1,263 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Amdocs were worth $603,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in DOX. Operose Advisors LLC increased its position in shares of Amdocs by 148.0% during the 3rd quarter. Operose Advisors LLC now owns 310 shares of the technology company’s stock valued at $26,000 after purchasing an additional 185 shares during the period. VisionPoint Advisory Group LLC increased its position in shares of Amdocs by 77.7% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 503 shares of the technology company’s stock valued at $42,000 after purchasing an additional 220 shares during the period. GeoWealth Management LLC acquired a new position in shares of Amdocs during the 1st quarter valued at $80,000. Allworth Financial LP increased its position in shares of Amdocs by 16,840.0% during the 3rd quarter. Allworth Financial LP now owns 847 shares of the technology company’s stock valued at $72,000 after purchasing an additional 842 shares during the period. Finally, Zions Bancorporation N.A. acquired a new position in shares of Amdocs during the 1st quarter valued at $83,000. Institutional investors own 92.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DOX. Barclays lifted their target price on Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Citigroup lifted their target price on Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $108.60.

Amdocs Stock Performance

Shares of Amdocs stock opened at $85.11 on Friday. The stock has a market cap of $10.00 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.38 and a beta of 0.69. The business has a fifty day simple moving average of $90.10 and a 200-day simple moving average of $87.23. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.21. Amdocs Limited has a 12 month low of $78.38 and a 12 month high of $99.75.

Amdocs (NASDAQ:DOX) last issued its earnings results on Tuesday, February 6th. The technology company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.40 by $0.16. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. Amdocs’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.33 earnings per share. On average, sell-side analysts anticipate that Amdocs Limited will post 5.87 EPS for the current fiscal year.

Amdocs Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, March 29th will be given a dividend of $0.479 per share. This is a boost from Amdocs’s previous quarterly dividend of $0.44. The ex-dividend date is Wednesday, March 27th. This represents a $1.92 dividend on an annualized basis and a yield of 2.25%. Amdocs’s dividend payout ratio (DPR) is presently 40.90%.

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.