Amalgamated Bank Trims Stake in Amdocs Limited (NASDAQ:DOX)

Amalgamated Bank lessened its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 70.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,031 shares of the technology company's stock after selling 14,134 shares during the period. Amalgamated Bank's holdings in Amdocs were worth $528,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Natixis Advisors LLC increased its holdings in Amdocs by 0.4% during the 2nd quarter. Natixis Advisors LLC now owns 27,246 shares of the technology company's stock worth $2,150,000 after purchasing an additional 120 shares during the period. Raymond James Trust N.A. lifted its stake in Amdocs by 2.3% in the second quarter. Raymond James Trust N.A. now owns 5,796 shares of the technology company's stock worth $457,000 after acquiring an additional 129 shares during the period. Y.D. More Investments Ltd grew its holdings in Amdocs by 1.5% during the 2nd quarter. Y.D. More Investments Ltd now owns 9,389 shares of the technology company's stock worth $741,000 after acquiring an additional 139 shares in the last quarter. Blue Trust Inc. increased its position in Amdocs by 18.0% during the 2nd quarter. Blue Trust Inc. now owns 1,138 shares of the technology company's stock valued at $90,000 after purchasing an additional 174 shares during the period. Finally, Private Advisor Group LLC increased its position in Amdocs by 3.2% during the 3rd quarter. Private Advisor Group LLC now owns 5,626 shares of the technology company's stock valued at $492,000 after purchasing an additional 175 shares during the period. Institutional investors own 92.02% of the company's stock.

Amdocs Stock Performance

Shares of NASDAQ DOX traded down $1.73 during mid-day trading on Friday, hitting $83.98. The stock had a trading volume of 943,960 shares, compared to its average volume of 647,274. The firm has a market cap of $9.87 billion, a PE ratio of 19.81, a PEG ratio of 1.39 and a beta of 0.74. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.20. The company has a 50 day moving average of $88.16 and a two-hundred day moving average of $83.95. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $94.04.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.479 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Tuesday, December 31st. Amdocs's payout ratio is 45.28%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DOX. Stifel Nicolaus started coverage on shares of Amdocs in a research report on Wednesday, October 2nd. They issued a "buy" rating and a $100.00 price target for the company. Oppenheimer upped their target price on Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a report on Wednesday. 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. Finally, StockNews.com downgraded Amdocs from a "strong-buy" rating to a "buy" rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $101.83.

Amdocs 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.