Amdocs Limited (NASDAQ:DOX) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. lessened its stake in Amdocs Limited (NASDAQ:DOX) by 21.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,869 shares of the technology company’s stock after selling 767 shares during the quarter. Logan Capital Management Inc.’s holdings in Amdocs were worth $251,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in DOX. Private Trust Co. NA lifted its holdings in Amdocs by 62.9% in the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after purchasing an additional 117 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Amdocs in the third quarter valued at about $28,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Amdocs in the third quarter valued at about $55,000. GAMMA Investing LLC lifted its stake in shares of Amdocs by 115.1% in the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock worth $70,000 after buying an additional 428 shares in the last quarter. Finally, American National Bank acquired a new position in Amdocs during the second quarter worth about $76,000. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Stock Down 1.3 %

Shares of NASDAQ DOX opened at $87.30 on Friday. The company has a 50 day simple moving average of $88.06 and a 200-day simple moving average of $84.41. 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 company has a market capitalization of $10.26 billion, a P/E ratio of 20.59, a P/E/G ratio of 1.45 and a beta of 0.72. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $94.04.

Amdocs Dividend Announcement

The firm 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 dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Tuesday, December 31st. Amdocs’s payout ratio is 45.28%.

Analysts Set New Price Targets

A number of analysts have commented on DOX shares. Oppenheimer increased their price objective on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Barclays cut 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. StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Stifel Nicolaus started coverage on Amdocs in a report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 target price for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.20.

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.