Private Trust Co. NA Increases Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Private Trust Co. NA grew its stake in Amdocs Limited (NASDAQ:DOX) by 62.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 303 shares of the technology company’s stock after purchasing an additional 117 shares during the quarter. Private Trust Co. NA’s holdings in Amdocs were worth $27,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pzena Investment Management LLC raised its stake in Amdocs by 12.3% in the third quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company’s stock worth $556,700,000 after buying an additional 696,136 shares in the last quarter. LSV Asset Management raised its position in shares of Amdocs by 7.9% in the 2nd quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock worth $253,109,000 after acquiring an additional 234,096 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Amdocs by 36.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company’s stock worth $277,818,000 after acquiring an additional 851,022 shares in the last quarter. Brandes Investment Partners LP lifted its stake in shares of Amdocs by 31.1% in the 2nd quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock valued at $178,335,000 after purchasing an additional 536,359 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Amdocs by 7.9% during the second quarter. American Century Companies Inc. now owns 1,991,086 shares of the technology company’s stock valued at $157,137,000 after purchasing an additional 145,757 shares in the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Price Performance

Shares of DOX opened at $86.72 on Friday. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $94.04. The company has a market capitalization of $10.19 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 1.46 and a beta of 0.74. The firm has a 50 day moving average of $88.08 and a 200 day moving average of $84.09. 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 Announces Dividend

The firm also recently declared 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. This represents a $1.92 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs’s dividend payout ratio is currently 45.05%.

Analyst Ratings Changes

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