Range Financial Group LLC Invests $1.38 Million in Amdocs Limited (NASDAQ:DOX)

Range Financial Group LLC acquired a new stake in shares of Amdocs Limited (NASDAQ:DOX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 16,159 shares of the technology company’s stock, valued at approximately $1,376,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of DOX. Nordea Investment Management AB grew its holdings in shares of Amdocs by 8.3% during the fourth quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company’s stock valued at $141,112,000 after purchasing an additional 127,426 shares during the last quarter. Dudley & Shanley Inc. grew its stake in Amdocs by 7.6% during the 3rd quarter. Dudley & Shanley Inc. now owns 261,826 shares of the technology company’s stock worth $22,905,000 after buying an additional 18,600 shares during the last quarter. Principal Financial Group Inc. increased its position in Amdocs by 6.6% in the third quarter. Principal Financial Group Inc. now owns 1,032,867 shares of the technology company’s stock worth $90,355,000 after buying an additional 63,718 shares during the period. Franklin Resources Inc. lifted its stake in Amdocs by 71.6% in the third quarter. Franklin Resources Inc. now owns 152,230 shares of the technology company’s stock valued at $13,580,000 after buying an additional 63,527 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of Amdocs by 2.6% during the third quarter. Tidal Investments LLC now owns 113,671 shares of the technology company’s stock valued at $9,944,000 after acquiring an additional 2,885 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on DOX. Barclays reduced their target price on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Oppenheimer increased their price objective on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Monday. Finally, Stifel Nicolaus assumed coverage on Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price target for the company. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $101.20.

Amdocs Stock Performance

Shares of Amdocs stock traded down $0.29 during midday trading on Tuesday, hitting $84.18. The company had a trading volume of 478,589 shares, compared to its average volume of 484,322. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $94.04. The business’s 50 day simple moving average is $87.03 and its two-hundred day simple moving average is $85.57. The stock has a market cap of $9.50 billion, a PE ratio of 19.85, a P/E/G ratio of 1.45 and a beta of 0.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.24.

Amdocs Announces Dividend

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. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Tuesday, December 31st. Amdocs’s dividend payout ratio is currently 45.05%.

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.