Howe & Rusling Inc. Grows Position in Amdocs Limited (NASDAQ:DOX)

Howe & Rusling Inc. grew its stake in shares of Amdocs Limited (NASDAQ:DOX) by 13.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 104,543 shares of the technology company’s stock after purchasing an additional 12,447 shares during the period. Howe & Rusling Inc. owned approximately 0.09% of Amdocs worth $9,145,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of DOX. Catalyst Capital Advisors LLC purchased a new position in shares of Amdocs during the third quarter valued at approximately $55,000. GAMMA Investing LLC increased its stake in Amdocs by 115.1% during the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock worth $70,000 after acquiring an additional 428 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Amdocs in the 3rd quarter worth about $77,000. American National Bank acquired a new position in shares of Amdocs in the 2nd quarter valued at about $76,000. Finally, Blue Trust Inc. grew its holdings in shares of Amdocs by 18.0% during the 2nd quarter. Blue Trust Inc. now owns 1,138 shares of the technology company’s stock worth $90,000 after purchasing an additional 174 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Stock Performance

Shares of DOX opened at $82.94 on Wednesday. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 1.39 and a beta of 0.74. The company’s fifty day moving average is $88.13 and its 200-day moving average is $83.96. The company has a quick ratio of 1.24, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. Amdocs Limited has a 12 month low of $74.41 and a 12 month high of $94.04.

Amdocs Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.479 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.31%. Amdocs’s payout ratio is presently 45.28%.

Analysts Set New Price Targets

A number of research analysts have weighed in on DOX shares. StockNews.com cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Barclays decreased their price target on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Stifel Nicolaus started coverage on Amdocs in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price objective on the stock. Finally, Oppenheimer lifted their price objective on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $101.83.

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.