Moran Wealth Management LLC Has $592,000 Position in Amdocs Limited (NASDAQ:DOX)

Moran Wealth Management LLC reduced its position in Amdocs Limited (NASDAQ:DOX) by 7.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,731 shares of the technology company’s stock after selling 570 shares during the period. Moran Wealth Management LLC’s holdings in Amdocs were worth $592,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DOX. Invesco Ltd. grew its stake in shares of Amdocs by 31.0% during the 3rd quarter. Invesco Ltd. now owns 2,629,346 shares of the technology company’s stock worth $222,153,000 after acquiring an additional 621,962 shares in the last quarter. Nordea Investment Management AB raised its holdings in Amdocs by 1.9% in the 3rd quarter. Nordea Investment Management AB now owns 2,109,185 shares of the technology company’s stock valued at $180,905,000 after acquiring an additional 38,452 shares during the period. Dimensional Fund Advisors LP increased its position in Amdocs by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,007,777 shares of the technology company’s stock worth $176,464,000 after buying an additional 94,856 shares during the period. American Century Companies Inc. grew its position in Amdocs by 6.2% during the third quarter. American Century Companies Inc. now owns 1,980,219 shares of the technology company’s stock worth $167,309,000 after buying an additional 115,744 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Amdocs by 5.7% in the third quarter. Wellington Management Group LLP now owns 1,289,317 shares of the technology company’s stock valued at $108,934,000 after purchasing an additional 69,825 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Analyst Upgrades and Downgrades

DOX has been the topic of several recent analyst reports. Robert W. Baird decreased their target price on shares of Amdocs from $97.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Citigroup cut their target price on shares of Amdocs from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. Finally, Barclays raised their price objective on Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $104.83.

Amdocs Stock Down 0.3 %

Shares of DOX stock traded down $0.22 during trading hours on Thursday, reaching $81.83. The company had a trading volume of 53,809 shares, compared to its average volume of 684,019. The business has a fifty day simple moving average of $87.71 and a 200-day simple moving average of $87.62. Amdocs Limited has a 12 month low of $78.38 and a 12 month high of $99.75. The company has a market cap of $9.62 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 1.36 and a beta of 0.70. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.32 and a quick ratio of 1.32.

Amdocs Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be paid a $0.479 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.92 annualized dividend and a dividend yield of 2.34%. Amdocs’s payout ratio is 43.15%.

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.