Verition Fund Management LLC Purchases 77,646 Shares of Amdocs Limited (NASDAQ:DOX)

Verition Fund Management LLC boosted its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 47.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 242,131 shares of the technology company's stock after acquiring an additional 77,646 shares during the period. Verition Fund Management LLC owned 0.21% of Amdocs worth $21,182,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DOX. Pzena Investment Management LLC boosted its holdings in shares of Amdocs by 12.3% during the 3rd quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company's stock worth $556,700,000 after buying an additional 696,136 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Amdocs by 7.9% during the 2nd quarter. LSV Asset Management now owns 3,207,155 shares of the technology company's stock worth $253,109,000 after buying an additional 234,096 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Amdocs by 36.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company's stock worth $277,818,000 after buying an additional 851,022 shares in the last quarter. Brandes Investment Partners LP boosted its holdings in shares of Amdocs by 31.1% during the 2nd quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company's stock worth $178,335,000 after buying an additional 536,359 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Amdocs by 39.5% during the 1st quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company's stock worth $183,771,000 after buying an additional 576,168 shares in the last quarter. 92.02% of the stock is currently owned by institutional investors.

Amdocs Stock Performance

Shares of Amdocs stock traded down $0.46 during trading hours on Friday, hitting $86.72. 500,218 shares of the company's stock traded hands, compared to its average volume of 681,238. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $94.04. The stock has a market capitalization of $10.19 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 1.46 and a beta of 0.74. The company has a fifty day simple moving average of $88.08 and a 200-day simple moving average of $84.09. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.24.

Amdocs Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs's dividend payout ratio is presently 45.05%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on DOX shares. Stifel Nicolaus started coverage on Amdocs in a report on Wednesday, October 2nd. They set a "buy" rating and a $100.00 price target on the stock. Barclays cut their target price on Amdocs from $113.00 to $111.00 and set an "overweight" rating on the stock in a report on Thursday, November 14th. StockNews.com cut Amdocs from a "strong-buy" rating to a "buy" rating in a report on Thursday, November 14th. Finally, Oppenheimer increased their target price on Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Amdocs has a consensus rating of "Moderate Buy" and an average target price 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.