Fmr LLC Trims Stake in Amdocs Limited (NASDAQ:DOX)

FMR LLC lessened its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,892,966 shares of the technology company's stock after selling 81,196 shares during the quarter. FMR LLC owned about 14.37% of Amdocs worth $1,477,797,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Private Trust Co. NA grew its holdings in Amdocs by 62.9% during the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company's stock valued at $27,000 after buying an additional 117 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Amdocs in the third quarter valued at $55,000. GAMMA Investing LLC increased its position in Amdocs by 115.1% in the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company's stock worth $70,000 after purchasing an additional 428 shares during the last quarter. American National Bank purchased a new stake in Amdocs during the second quarter valued at $76,000. Finally, Meeder Asset Management Inc. bought a new position in Amdocs during the third quarter valued at $77,000. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Trading Down 0.2 %

DOX traded down $0.19 during trading hours on Wednesday, reaching $87.18. 730,329 shares of the company's stock traded hands, compared to its average volume of 682,025. The firm has a 50-day moving average price of $88.08 and a 200 day moving average price of $84.03. The firm has a market capitalization of $10.25 billion, a PE ratio of 20.56, a PEG ratio of 1.46 and a beta of 0.74. 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 Limited has a 52-week low of $74.41 and a 52-week high of $94.04.

Amdocs Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs's dividend payout ratio is currently 45.28%.

Analysts Set New Price Targets

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

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.