Pitcairn Co. Has $284,000 Holdings in Amdocs Limited (NASDAQ:DOX)

Pitcairn Co. raised its position in shares of Amdocs Limited (NASDAQ:DOX) by 19.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,245 shares of the technology company’s stock after buying an additional 538 shares during the quarter. Pitcairn Co.’s holdings in Amdocs were worth $284,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in DOX. Boston Trust Walden Corp raised its position in Amdocs by 17.0% during the second quarter. Boston Trust Walden Corp now owns 618,387 shares of the technology company’s stock valued at $48,803,000 after buying an additional 89,726 shares during the period. SG Americas Securities LLC lifted its position in shares of Amdocs by 402.4% in the second quarter. SG Americas Securities LLC now owns 154,968 shares of the technology company’s stock worth $12,230,000 after purchasing an additional 124,122 shares in the last quarter. Sargent Investment Group LLC purchased a new position in Amdocs during the second quarter valued at approximately $289,000. BDF Gestion acquired a new position in Amdocs in the 2nd quarter valued at approximately $833,000. Finally, Raymond James & Associates boosted its stake in shares of Amdocs by 15.8% during the 2nd 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 period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Trading Down 0.2 %

NASDAQ:DOX opened at $87.18 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $88.08 and its 200-day moving average is $84.03. The firm has a market cap of $10.25 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 1.46 and a beta of 0.74. Amdocs Limited has a 12 month low of $74.41 and a 12 month high of $94.04.

Amdocs Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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 yield of 2.20%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs’s dividend payout ratio (DPR) is 45.28%.

Wall Street Analyst Weigh In

DOX has been the topic of a number of research reports. Barclays dropped 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 Amdocs from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Oppenheimer raised their price objective on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus initiated coverage on shares of Amdocs in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 target price for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Amdocs presently 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.