Logan Capital Management Inc. Reduces Stock Position in Amdocs Limited (NASDAQ:DOX)

Logan Capital Management Inc. lowered its position in Amdocs Limited (NASDAQ:DOX) by 21.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,869 shares of the technology company’s stock after selling 767 shares during the period. Logan Capital Management Inc.’s holdings in Amdocs were worth $251,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DOX. Wealth Enhancement Advisory Services LLC lifted its holdings in Amdocs by 1.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 62,995 shares of the technology company’s stock valued at $4,972,000 after purchasing an additional 628 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Amdocs by 2.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 24,260 shares of the technology company’s stock valued at $1,915,000 after purchasing an additional 507 shares during the last quarter. Blue Trust Inc. boosted its stake in Amdocs by 18.0% during the second quarter. Blue Trust Inc. now owns 1,138 shares of the technology company’s stock worth $90,000 after buying an additional 174 shares during the period. Boston Trust Walden Corp boosted its stake in shares of Amdocs by 17.0% during the 2nd quarter. Boston Trust Walden Corp now owns 618,387 shares of the technology company’s stock worth $48,803,000 after purchasing an additional 89,726 shares during the period. Finally, Raymond James & Associates grew its stake in shares of Amdocs by 15.8% during the second quarter. Raymond James & Associates now owns 457,477 shares of the technology company’s stock valued at $36,104,000 after buying an additional 62,460 shares during the last quarter. Institutional investors own 92.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays reduced their price target 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. StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Stifel Nicolaus began coverage on Amdocs in a report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price objective on the stock. Finally, Oppenheimer lifted their target price on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.20.

Amdocs Stock Performance

NASDAQ DOX opened at $87.30 on Friday. The firm has a market capitalization of $10.26 billion, a P/E ratio of 20.59, a PEG ratio of 1.45 and a beta of 0.72. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $94.04. The stock has a 50-day simple moving average of $88.06 and a two-hundred day simple moving average of $84.41. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.20.

Amdocs Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs’s dividend payout ratio (DPR) is 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.