Amdocs Limited (NASDAQ:DOX) Stake Cut by Bridgewater Associates LP

Bridgewater Associates LP cut its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 9.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 248,744 shares of the technology company's stock after selling 26,096 shares during the quarter. Bridgewater Associates LP owned approximately 0.21% of Amdocs worth $21,760,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. First Horizon Advisors Inc. boosted its stake in Amdocs by 1.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 5,902 shares of the technology company's stock worth $516,000 after buying an additional 109 shares during the last quarter. Private Trust Co. NA increased its position in Amdocs by 62.9% during the third quarter. Private Trust Co. NA now owns 303 shares of the technology company's stock worth $27,000 after purchasing an additional 117 shares during the last quarter. Natixis Advisors LLC raised its stake in Amdocs by 0.4% during the second quarter. Natixis Advisors LLC now owns 27,246 shares of the technology company's stock worth $2,150,000 after purchasing an additional 120 shares during the period. Raymond James Trust N.A. boosted its holdings in shares of Amdocs by 2.3% in the 2nd quarter. Raymond James Trust N.A. now owns 5,796 shares of the technology company's stock valued at $457,000 after purchasing an additional 129 shares during the last quarter. Finally, Y.D. More Investments Ltd increased its holdings in shares of Amdocs by 1.5% during the 2nd quarter. Y.D. More Investments Ltd now owns 9,389 shares of the technology company's stock worth $741,000 after buying an additional 139 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DOX. Stifel Nicolaus started coverage on Amdocs in a research report on Wednesday, October 2nd. They set a "buy" rating and a $100.00 price target for the company. Barclays dropped their target price on shares of Amdocs from $113.00 to $111.00 and set an "overweight" rating for the company in a research report on Thursday, November 14th. Oppenheimer lifted their price target on shares of Amdocs from $98.00 to $105.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Finally, StockNews.com lowered shares of Amdocs from a "strong-buy" rating to a "buy" rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.83.

Amdocs Stock Down 0.2 %

NASDAQ DOX traded down $0.19 during mid-day trading on Thursday, reaching $87.18. 730,329 shares of the company's stock traded hands, compared to its average volume of 682,025. The company has a market cap of $10.25 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 1.46 and a beta of 0.74. The company has a current ratio of 1.20, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $88.07 and a 200-day simple moving average of $84.05. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $94.04.

Amdocs Announces Dividend

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 given a $0.479 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Tuesday, December 31st. Amdocs's payout ratio is currently 45.28%.

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.