Raymond James Financial Inc. Invests $44.49 Million in Amdocs Limited (NASDAQ:DOX)

Raymond James Financial Inc. bought a new position in shares of Amdocs Limited (NASDAQ:DOX) during the fourth quarter, Holdings Channel.com reports. The fund bought 522,600 shares of the technology company’s stock, valued at approximately $44,494,000.

A number of other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in shares of Amdocs during the fourth quarter worth approximately $1,906,000. Seizert Capital Partners LLC grew its holdings in Amdocs by 9.3% during the fourth quarter. Seizert Capital Partners LLC now owns 536,074 shares of the technology company’s stock worth $45,641,000 after buying an additional 45,419 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Amdocs by 3.1% during the fourth quarter. Victory Capital Management Inc. now owns 493,047 shares of the technology company’s stock worth $41,978,000 after buying an additional 14,910 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Amdocs by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 213,310 shares of the technology company’s stock worth $18,161,000 after buying an additional 6,173 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Amdocs during the fourth quarter worth $41,000. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Stock Down 1.9 %

Shares of NASDAQ:DOX opened at $88.79 on Wednesday. The company has a market capitalization of $10.02 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.47 and a beta of 0.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20. The business has a fifty day moving average price of $86.54 and a two-hundred day moving average price of $87.03. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $93.83.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. Analysts forecast that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be given a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s dividend payout ratio is currently 48.72%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DOX. Barclays decreased their price target on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Oppenheimer upped their price target on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.20.

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.