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

Range Financial Group LLC bought a new stake in Amdocs Limited (NASDAQ:DOX) in the 4th quarter, Holdings Channel.com reports. The firm bought 16,159 shares of the technology company’s stock, valued at approximately $1,376,000.

Other hedge funds have also bought and sold shares of the company. Private Trust Co. NA boosted its stake 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 during the period. Brooklyn Investment Group bought a new stake in shares of Amdocs in the third quarter valued at about $28,000. Catalyst Capital Advisors LLC acquired a new position in shares of Amdocs in the third quarter valued at about $55,000. GAMMA Investing LLC grew 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 valued at $70,000 after acquiring an additional 428 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Amdocs in the third quarter valued at approximately $77,000. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Amdocs Stock Down 0.3 %

DOX traded down $0.29 during trading on Tuesday, hitting $84.18. 478,589 shares of the company’s stock were exchanged, compared to its average volume of 484,322. The stock has a market cap of $9.50 billion, a P/E ratio of 19.85, a PEG ratio of 1.45 and a beta of 0.71. The business’s 50 day moving average is $87.03 and its two-hundred day moving average is $85.57. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $94.04. 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 company 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. This represents a $1.92 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Tuesday, December 31st. Amdocs’s payout ratio is 45.05%.

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.