Fulton Bank N.A. Increases Holdings in Amdocs Limited (NASDAQ:DOX)

Fulton Bank N.A. lifted its position in shares of Amdocs Limited (NASDAQ:DOX – Get Rating) by 40.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,851 shares of the technology company’s stock after buying an additional 1,101 shares during the period. Fulton Bank N.A.’s holdings in Amdocs were worth $350,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of DOX. Nuveen Asset Management LLC increased its holdings in shares of Amdocs by 0.9% during the 3rd quarter. Nuveen Asset Management LLC now owns 478,931 shares of the technology company’s stock worth $38,051,000 after buying an additional 4,245 shares during the last quarter. BOKF NA boosted its position in Amdocs by 19.6% during the 2nd quarter. BOKF NA now owns 4,928 shares of the technology company’s stock worth $410,000 after purchasing an additional 808 shares during the period. Illinois Municipal Retirement Fund boosted its position in Amdocs by 76.1% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 94,292 shares of the technology company’s stock worth $7,491,000 after purchasing an additional 40,748 shares during the period. CWM LLC boosted its position in Amdocs by 7.3% during the 3rd quarter. CWM LLC now owns 76,448 shares of the technology company’s stock worth $6,074,000 after purchasing an additional 5,215 shares during the period. Finally, Korea Investment CORP purchased a new stake in Amdocs during the 2nd quarter worth $4,066,000. Hedge funds and other institutional investors own 88.11% of the company’s stock.

Amdocs Stock Down 0.4 %

DOX stock opened at $91.00 on Friday. The company has a market cap of $10.99 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.55 and a beta of 0.65. The company has a 50 day moving average of $92.24 and a two-hundred day moving average of $87.34. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.21. Amdocs Limited has a 12-month low of $76.79 and a 12-month high of $97.08.

Amdocs Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, March 31st will be issued a dividend of $0.435 per share. The ex-dividend date is Thursday, March 30th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.91%. This is an increase from Amdocs’s previous quarterly dividend of $0.40. Amdocs’s dividend payout ratio (DPR) is currently 35.59%.

Analyst Ratings Changes

DOX has been the subject of a number of analyst reports. Robert W. Baird upped their price objective on shares of Amdocs from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, February 2nd. Oppenheimer upped their price objective on shares of Amdocs from $94.00 to $99.00 and gave the company an “outperform” rating in a research report on Wednesday, February 1st. Finally, StockNews.com initiated coverage on shares of Amdocs in a research note on Thursday. They issued a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Amdocs has an average rating of “Moderate Buy” and an average target price of $98.75.

About Amdocs

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Amdocs Ltd. is a holding company, which engages in the provision of software products and services for the communications, entertainment, and media industry service providers. The company was founded in 1988 and is headquartered in Saint Louis, MO.