Hancock Whitney Corp Decreases Stake in Amdocs Limited (NASDAQ:DOX)

Hancock Whitney Corp lessened its stake in shares of Amdocs Limited (NASDAQ:DOX) by 1.1% during the 3rd quarter, Holdings Channel reports. The firm owned 24,480 shares of the technology company’s stock after selling 262 shares during the quarter. Hancock Whitney Corp’s holdings in Amdocs were worth $2,142,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Catalyst Capital Advisors LLC purchased a new position in shares of Amdocs in the third quarter worth about $55,000. GAMMA Investing LLC raised its position in Amdocs by 115.1% during the 3rd quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock worth $70,000 after buying an additional 428 shares during the last quarter. American National Bank acquired a new stake in Amdocs during the 2nd quarter valued at approximately $76,000. Meeder Asset Management Inc. purchased a new stake in shares of Amdocs in the 3rd quarter valued at $77,000. Finally, Blue Trust Inc. increased its stake in shares of Amdocs by 18.0% in the second quarter. Blue Trust Inc. now owns 1,138 shares of the technology company’s stock worth $90,000 after acquiring an additional 174 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Analysts Set New Price Targets

DOX has been the subject of a number of research reports. Oppenheimer boosted their target price 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. StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Stifel Nicolaus initiated coverage on Amdocs in a report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 target price on the stock. Finally, Barclays reduced their price target on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.83.

Amdocs Price Performance

Shares of Amdocs stock opened at $87.30 on Tuesday. The firm has a market cap of $10.26 billion, a PE ratio of 20.59, a P/E/G ratio of 1.43 and a beta of 0.74. The business has a 50-day moving average price of $88.04 and a 200 day moving average price of $83.98. 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 Limited has a twelve month low of $74.41 and a twelve month high of $94.04.

Amdocs Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Tuesday, December 31st. Amdocs’s payout ratio is 45.05%.

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.