Ironwood Investment Counsel LLC Purchases 338 Shares of Amdocs Limited (NASDAQ:DOX)

Ironwood Investment Counsel LLC increased its position in Amdocs Limited (NASDAQ:DOX) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,903 shares of the technology company’s stock after acquiring an additional 338 shares during the period. Ironwood Investment Counsel LLC’s holdings in Amdocs were worth $779,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Private Trust Co. NA boosted its position in Amdocs by 62.9% in the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock worth $27,000 after purchasing an additional 117 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Amdocs in the 3rd quarter worth approximately $28,000. Catalyst Capital Advisors LLC purchased a new position in shares of Amdocs in the third quarter worth approximately $55,000. GAMMA Investing LLC grew its position in Amdocs by 115.1% during the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after buying an additional 428 shares during the period. Finally, American National Bank purchased a new stake in Amdocs during the second quarter valued at approximately $76,000. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. 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. StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Barclays reduced their price target on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Finally, Stifel Nicolaus started coverage on Amdocs in a research report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.83.

Amdocs Trading Down 0.5 %

Shares of DOX stock opened at $86.72 on Friday. 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 stock has a fifty day simple moving average of $88.08 and a two-hundred day simple moving average of $84.07. The firm has a market capitalization of $10.19 billion, a PE ratio of 20.45, a PEG ratio of 1.46 and a beta of 0.74. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $94.04.

Amdocs Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.479 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a yield of 2.21%. Amdocs’s dividend payout ratio is presently 45.05%.

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.