17,031 Shares in Amdocs Limited (NASDAQ:DOX) Purchased by ARGA Investment Management LP

ARGA Investment Management LP acquired a new position in Amdocs Limited (NASDAQ:DOX - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,031 shares of the technology company's stock, valued at approximately $1,490,000.

Several other institutional investors have also added to or reduced their stakes in the company. Pzena Investment Management LLC boosted its stake in shares of Amdocs by 33.2% during the second quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company's stock valued at $447,287,000 after purchasing an additional 1,412,826 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Amdocs by 36.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company's stock valued at $277,818,000 after buying an additional 851,022 shares in the last quarter. Brandes Investment Partners LP grew its stake in Amdocs by 31.1% in the 2nd quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company's stock worth $178,335,000 after acquiring an additional 536,359 shares in the last quarter. Pacer Advisors Inc. grew its stake in Amdocs by 36.2% in the 2nd quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company's stock worth $132,253,000 after acquiring an additional 444,966 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Amdocs by 1,207.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 271,701 shares of the technology company's stock worth $23,768,000 after acquiring an additional 250,918 shares during the period. Institutional investors own 92.02% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DOX. Barclays dropped their price target on Amdocs from $113.00 to $111.00 and set an "overweight" rating on the stock in a research report on Thursday, November 14th. StockNews.com cut shares of Amdocs from a "strong-buy" rating to a "buy" rating in a report on Thursday, November 14th. Stifel Nicolaus began coverage on shares of Amdocs in a report on Wednesday, October 2nd. They issued a "buy" rating and a $100.00 price target for the company. Finally, Oppenheimer upped their price target on shares of Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Amdocs has an average rating of "Moderate Buy" and an average price target of $101.83.

Amdocs Stock Performance

NASDAQ:DOX traded down $0.46 during trading hours on Friday, hitting $86.72. 500,218 shares of the company were exchanged, compared to its average volume of 753,368. The company's 50 day moving average price is $88.08 and its 200-day moving average price is $84.10. The stock has a market capitalization of $10.19 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 1.45 and a beta of 0.74. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $94.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.24.

Amdocs Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs's dividend payout ratio (DPR) is 45.28%.

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.