Moran Wealth Management LLC Has $660,000 Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Moran Wealth Management LLC reduced its position in Amdocs Limited (NASDAQ:DOX) by 1.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,548 shares of the technology company’s stock after selling 129 shares during the period. Moran Wealth Management LLC’s holdings in Amdocs were worth $660,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Catalyst Capital Advisors LLC bought a new stake in Amdocs during the 3rd quarter worth about $55,000. GAMMA Investing LLC raised its stake in shares of 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 buying an additional 428 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Amdocs in the third quarter valued at approximately $77,000. American National Bank bought a new position in Amdocs in the second quarter valued at approximately $76,000. Finally, Blue Trust Inc. grew its holdings in 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 acquiring an additional 174 shares during the period. Institutional investors own 92.02% of the company’s stock.

Amdocs Trading Up 0.6 %

NASDAQ DOX opened at $85.67 on Friday. Amdocs Limited has a one year low of $74.41 and a one year high of $94.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.24. The firm has a market cap of $10.07 billion, a P/E ratio of 20.21, a P/E/G ratio of 1.37 and a beta of 0.74. The stock’s 50-day moving average is $88.05 and its 200-day moving average is $83.96.

Amdocs Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.479 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Tuesday, December 31st. Amdocs’s payout ratio is currently 45.28%.

Analyst Ratings Changes

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

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.