Amdocs Limited (NASDAQ:DOX) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. raised its stake in shares of Amdocs Limited (NASDAQ:DOX) by 71.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 152,230 shares of the technology company’s stock after purchasing an additional 63,527 shares during the period. Franklin Resources Inc.’s holdings in Amdocs were worth $13,580,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp grew its position in Amdocs by 10.3% during the second quarter. Fifth Third Bancorp now owns 10,712 shares of the technology company’s stock valued at $845,000 after acquiring an additional 996 shares during the period. Tempus Wealth Planning LLC grew its holdings in shares of Amdocs by 5.6% during the 2nd quarter. Tempus Wealth Planning LLC now owns 4,199 shares of the technology company’s stock worth $331,000 after purchasing an additional 222 shares during the period. Raymond James Trust N.A. increased its position in Amdocs by 2.3% during the 2nd quarter. Raymond James Trust N.A. now owns 5,796 shares of the technology company’s stock worth $457,000 after purchasing an additional 129 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Amdocs by 46.8% in the second quarter. Bank of New York Mellon Corp now owns 512,722 shares of the technology company’s stock valued at $40,464,000 after buying an additional 163,371 shares during the period. Finally, Verdence Capital Advisors LLC lifted its position in Amdocs by 8.2% during the second quarter. Verdence Capital Advisors LLC now owns 4,143 shares of the technology company’s stock valued at $327,000 after buying an additional 315 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Stock Performance

Shares of DOX stock opened at $87.01 on Friday. The company’s fifty day moving average price is $87.93 and its two-hundred day moving average price is $84.75. 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 capitalization of $10.23 billion, a P/E ratio of 20.52, a P/E/G ratio of 1.45 and a beta of 0.72. Amdocs Limited has a 12 month low of $74.41 and a 12 month high of $94.04.

Amdocs Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.479 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Tuesday, December 31st. Amdocs’s dividend payout ratio is currently 45.05%.

Analyst Ratings Changes

DOX has been the subject of several recent research reports. StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Barclays lowered 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. Oppenheimer boosted their price objective on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus initiated coverage on Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $101.20.

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.