Atom Investors LP Trims Stake in Amdocs Limited (NASDAQ:DOX)

Atom Investors LP cut its position in Amdocs Limited (NASDAQ:DOX - Free Report) by 39.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,272 shares of the technology company's stock after selling 6,655 shares during the period. Atom Investors LP's holdings in Amdocs were worth $899,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Paloma Partners Management Co purchased a new stake in shares of Amdocs in the third quarter worth about $403,000. Morton Community Bank boosted its position in Amdocs by 0.4% during the third quarter. Morton Community Bank now owns 36,410 shares of the technology company's stock worth $3,185,000 after purchasing an additional 130 shares in the last quarter. ARGA Investment Management LP purchased a new position in Amdocs during the third quarter worth approximately $1,490,000. Wasatch Advisors LP boosted its position in Amdocs by 4.2% during the third quarter. Wasatch Advisors LP now owns 38,784 shares of the technology company's stock worth $3,393,000 after purchasing an additional 1,574 shares in the last quarter. Finally, Ironwood Investment Counsel LLC boosted its position in Amdocs by 3.9% during the third quarter. Ironwood Investment Counsel LLC now owns 8,903 shares of the technology company's stock worth $779,000 after purchasing an additional 338 shares in the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Stock Performance

Shares of DOX traded up $0.06 during midday trading on Wednesday, reaching $87.32. 637,381 shares of the stock were exchanged, compared to its average volume of 679,582. The business's 50-day moving average price is $88.15 and its 200 day moving average price is $84.20. 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 Limited has a twelve month low of $74.41 and a twelve month high of $94.04. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 1.46 and a beta of 0.72.

Amdocs Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.479 dividend. This represents a $1.92 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs's dividend payout ratio (DPR) is presently 45.28%.

Analyst Upgrades and Downgrades

DOX has been the topic of several research reports. StockNews.com downgraded Amdocs from a "strong-buy" rating to a "buy" rating in a research report on Thursday, November 14th. Stifel Nicolaus assumed coverage on Amdocs in a report on Wednesday, October 2nd. They issued a "buy" rating and a $100.00 price target for the company. Oppenheimer increased their price target on Amdocs from $98.00 to $105.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Finally, Barclays cut their price target on Amdocs from $113.00 to $111.00 and set an "overweight" rating for the company in a report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $101.20.

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.