Amdocs Limited (NASDAQ:DOX) Shares Purchased by Morton Community Bank

Morton Community Bank boosted its position in Amdocs Limited (NASDAQ:DOX) by 0.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,410 shares of the technology company’s stock after acquiring an additional 130 shares during the quarter. Morton Community Bank’s holdings in Amdocs were worth $3,185,000 at the end of the most recent quarter.

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

Amdocs Stock Performance

NASDAQ:DOX opened at $86.72 on Friday. The firm’s fifty day moving average price is $88.08 and its 200 day moving average price is $84.09. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $94.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.24. The firm has a market cap of $10.19 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 1.45 and a beta of 0.74.

Amdocs Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.479 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a yield of 2.21%. Amdocs’s dividend payout ratio (DPR) is 45.28%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Oppenheimer raised their price objective on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Stifel Nicolaus initiated coverage on shares of Amdocs in a report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 target price on the stock. Barclays cut their target price on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Finally, StockNews.com cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Amdocs currently 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.