Dean Investment Associates LLC raised its position in Amdocs Limited (NASDAQ:DOX - Free Report) by 1,341.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,136 shares of the technology company's stock after buying an additional 39,213 shares during the period. Dean Investment Associates LLC's holdings in Amdocs were worth $3,686,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Private Trust Co. NA increased its position 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 acquiring an additional 117 shares in the last quarter. Brooklyn Investment Group bought a new position in Amdocs in the 3rd quarter worth approximately $28,000. Catalyst Capital Advisors LLC acquired a new position in Amdocs during the 3rd quarter worth $55,000. GAMMA Investing LLC increased its stake in shares of Amdocs by 115.1% in the 3rd quarter. GAMMA Investing LLC now owns 800 shares of the technology company's stock valued at $70,000 after buying an additional 428 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in shares of Amdocs during the third quarter worth $77,000. 92.02% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts have weighed in on DOX shares. Stifel Nicolaus initiated coverage on Amdocs in a report on Wednesday, October 2nd. They set a "buy" rating and a $100.00 price objective for the company. Barclays reduced their price objective on shares of Amdocs from $113.00 to $111.00 and set an "overweight" rating on the stock in a research note on Thursday, November 14th. StockNews.com downgraded Amdocs from a "strong-buy" rating to a "buy" rating in a research note on Thursday, November 14th. Finally, Oppenheimer upped their price objective on Amdocs from $98.00 to $105.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $101.20.
Check Out Our Latest Stock Report on DOX
Amdocs Stock Down 0.5 %
Shares of NASDAQ:DOX traded down $0.41 during trading on Friday, hitting $86.64. 779,784 shares of the company's stock traded hands, compared to its average volume of 760,323. The company has a 50-day moving average price of $88.12 and a 200-day moving average price of $84.28. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The company has a current ratio of 1.20, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 1.46 and a beta of 0.72.
Amdocs Announces Dividend
The business also recently disclosed 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. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.21%. Amdocs's payout ratio is 45.05%.
About Amdocs
(
Free Report)
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.
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