Glenmede Trust Co. NA Buys 24,442 Shares of Amdocs Limited (NASDAQ:DOX)

Glenmede Trust Co. NA raised its stake in Amdocs Limited (NASDAQ:DOX) by 18.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 157,780 shares of the technology company’s stock after purchasing an additional 24,442 shares during the period. Glenmede Trust Co. NA owned 0.13% of Amdocs worth $13,803,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in DOX. Boston Trust Walden Corp raised its stake in Amdocs by 17.0% during the 2nd quarter. Boston Trust Walden Corp now owns 618,387 shares of the technology company’s stock worth $48,803,000 after buying an additional 89,726 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Amdocs by 402.4% in the 2nd quarter. SG Americas Securities LLC now owns 154,968 shares of the technology company’s stock worth $12,230,000 after purchasing an additional 124,122 shares in the last quarter. Sargent Investment Group LLC bought a new position in shares of Amdocs in the 2nd quarter worth $289,000. BDF Gestion acquired a new stake in Amdocs in the 2nd quarter valued at $833,000. Finally, Raymond James & Associates increased its stake in Amdocs by 15.8% during the 2nd quarter. Raymond James & Associates now owns 457,477 shares of the technology company’s stock valued at $36,104,000 after purchasing an additional 62,460 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DOX shares. StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Oppenheimer raised their price target on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Stifel Nicolaus initiated coverage on Amdocs in a report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price objective for the company. Finally, Barclays dropped their target price on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $101.83.

Amdocs Price Performance

Amdocs stock opened at $87.18 on Friday. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The company’s 50 day moving average price is $88.07 and its two-hundred day moving average price is $84.05. The stock has a market cap of $10.25 billion, a P/E ratio of 20.56, a P/E/G ratio of 1.46 and a beta of 0.74. The company has a quick ratio of 1.24, a current ratio of 1.20 and a debt-to-equity ratio of 0.21.

Amdocs Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.479 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.92 annualized dividend and a yield of 2.20%. Amdocs’s dividend payout ratio is currently 45.28%.

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.