Axxcess Wealth Management LLC Has $202,000 Stock Position in Amdocs Limited (NASDAQ:DOX)

Axxcess Wealth Management LLC decreased its stake in Amdocs Limited (NASDAQ:DOX) by 15.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,307 shares of the technology company’s stock after selling 415 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Amdocs were worth $202,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Pzena Investment Management LLC boosted its position in Amdocs by 33.2% during the 2nd quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock worth $447,287,000 after acquiring an additional 1,412,826 shares during the period. Allspring Global Investments Holdings LLC raised its stake 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 valued at $277,818,000 after acquiring an additional 851,022 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Amdocs by 39.5% in the 1st quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock valued at $183,771,000 after acquiring an additional 576,168 shares in the last quarter. Brandes Investment Partners LP increased its position in Amdocs by 31.1% in the 2nd quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock worth $178,335,000 after buying an additional 536,359 shares during the period. Finally, Pacer Advisors Inc. increased its position in Amdocs by 36.2% in the 2nd quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company’s stock worth $132,253,000 after buying an additional 444,966 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Stock Performance

DOX opened at $85.71 on Friday. The stock has a market cap of $10.07 billion, a PE ratio of 20.21, a P/E/G ratio of 1.50 and a beta of 0.74. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $94.04. The stock’s 50 day simple moving average is $88.18 and its 200-day simple moving average is $83.94.

Amdocs Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.479 dividend. This represents a $1.92 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs’s dividend payout ratio is 45.28%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Oppenheimer lifted their price target on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays dropped their price target on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research report on Thursday. Stifel Nicolaus assumed coverage on Amdocs in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price target on the stock. Finally, StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday. One investment 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 currently has an average rating of “Moderate Buy” and an average price target of $101.83.

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.