Valley Wealth Managers Inc. Has $20.07 Million Position in Amdocs Limited (NASDAQ:DOX)

Valley Wealth Managers Inc. decreased its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 14.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,375 shares of the technology company's stock after selling 39,408 shares during the quarter. Amdocs makes up about 1.5% of Valley Wealth Managers Inc.'s investment portfolio, making the stock its 26th largest position. Valley Wealth Managers Inc. owned 0.20% of Amdocs worth $20,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of DOX. State Board of Administration of Florida Retirement System raised its position in Amdocs by 7.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 166,927 shares of the technology company's stock valued at $16,030,000 after purchasing an additional 12,178 shares during the last quarter. Boston Trust Walden Corp raised its position in Amdocs by 17.0% in the 2nd quarter. Boston Trust Walden Corp now owns 618,387 shares of the technology company's stock valued at $48,803,000 after purchasing an additional 89,726 shares during the last quarter. SG Americas Securities LLC raised its position in Amdocs by 402.4% in the 2nd quarter. SG Americas Securities LLC now owns 154,968 shares of the technology company's stock valued at $12,230,000 after purchasing an additional 124,122 shares during the last quarter. Sargent Investment Group LLC bought a new position in Amdocs in the 2nd quarter valued at $289,000. Finally, Acadian Asset Management LLC raised its position in Amdocs by 22.7% in the 1st quarter. Acadian Asset Management LLC now owns 1,395,894 shares of the technology company's stock valued at $126,119,000 after purchasing an additional 258,343 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company's stock.

Amdocs Trading Down 2.0 %

NASDAQ DOX traded down $1.73 on Friday, reaching $83.98. The company had a trading volume of 943,960 shares, compared to its average volume of 683,137. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. The stock has a market cap of $9.87 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.42 and a beta of 0.74. The stock's 50 day moving average is $88.18 and its 200-day moving average is $83.96.

Amdocs Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on DOX shares. Oppenheimer boosted their target price on Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a research report on Wednesday. Stifel Nicolaus started coverage on Amdocs in a research report on Wednesday, October 2nd. They set a "buy" rating and a $100.00 target price for the company. Barclays dropped their target price 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 equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $101.83.

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.