Commerce Bank Trims Holdings in Amdocs Limited (NASDAQ:DOX)

Commerce Bank decreased its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 3.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,389 shares of the technology company’s stock after selling 380 shares during the period. Commerce Bank’s holdings in Amdocs were worth $1,084,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Natixis Advisors LLC increased its position in shares of Amdocs by 0.4% during the second quarter. Natixis Advisors LLC now owns 27,246 shares of the technology company’s stock valued at $2,150,000 after buying an additional 120 shares during the period. Raymond James Trust N.A. grew its holdings in shares of Amdocs by 2.3% during the 2nd quarter. Raymond James Trust N.A. now owns 5,796 shares of the technology company’s stock worth $457,000 after acquiring an additional 129 shares during the period. Y.D. More Investments Ltd raised its position in shares of Amdocs by 1.5% in the 2nd quarter. Y.D. More Investments Ltd now owns 9,389 shares of the technology company’s stock worth $741,000 after acquiring an additional 139 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Amdocs by 18.0% in the 2nd quarter. Blue Trust Inc. now owns 1,138 shares of the technology company’s stock valued at $90,000 after purchasing an additional 174 shares during the period. Finally, Private Advisor Group LLC boosted its position in shares of Amdocs by 3.2% during the third quarter. Private Advisor Group LLC now owns 5,626 shares of the technology company’s stock valued at $492,000 after purchasing an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Analyst Ratings Changes

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

Amdocs Stock Performance

Shares of Amdocs stock opened at $85.67 on Monday. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.24. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $94.04. The firm’s 50-day moving average is $88.03 and its 200 day moving average is $83.95.

Amdocs Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs’s payout ratio is 45.28%.

About Amdocs

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.