Amdocs Limited (NASDAQ:DOX) Position Lessened by Martingale Asset Management L P

Martingale Asset Management L P decreased its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 13.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 277,813 shares of the technology company's stock after selling 43,403 shares during the quarter. Martingale Asset Management L P owned 0.24% of Amdocs worth $24,303,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Pzena Investment Management LLC boosted its stake in Amdocs by 33.2% during the 2nd 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 in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Amdocs by 36.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company's stock worth $277,818,000 after acquiring an additional 851,022 shares during the period. Vanguard Group Inc. raised its position in Amdocs by 39.5% in the first quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company's stock worth $183,771,000 after acquiring an additional 576,168 shares in the last quarter. Brandes Investment Partners LP lifted its holdings 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 valued at $178,335,000 after acquiring an additional 536,359 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Amdocs by 36.2% during the 2nd quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company's stock valued at $132,253,000 after purchasing an additional 444,966 shares in the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Amdocs Stock Down 0.5 %

NASDAQ:DOX traded down $0.46 during trading hours on Friday, hitting $86.72. 500,129 shares of the company's stock traded hands, compared to its average volume of 681,237. The stock's fifty day moving average price is $88.07 and its two-hundred day moving average price is $84.05. The firm has a market cap of $10.19 billion, a P/E ratio of 20.56, a P/E/G ratio of 1.46 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. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $94.04.

Amdocs Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.479 dividend. 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%.

About Amdocs

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.