Citigroup Inc. Has $6.87 Million Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Citigroup Inc. increased its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 8.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,491 shares of the technology company's stock after acquiring an additional 6,294 shares during the quarter. Citigroup Inc. owned about 0.07% of Amdocs worth $6,866,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Boston Trust Walden Corp increased its stake in Amdocs by 17.0% during the 2nd quarter. Boston Trust Walden Corp now owns 618,387 shares of the technology company's stock worth $48,803,000 after purchasing an additional 89,726 shares in the last quarter. SG Americas Securities LLC boosted its stake in Amdocs by 402.4% in the 2nd quarter. SG Americas Securities LLC now owns 154,968 shares of the technology company's stock worth $12,230,000 after purchasing an additional 124,122 shares during the period. Sargent Investment Group LLC bought a new position in Amdocs during the 2nd quarter worth about $289,000. BDF Gestion acquired a new stake in shares of Amdocs in the 2nd quarter valued at about $833,000. Finally, Raymond James & Associates lifted its holdings in shares of Amdocs by 15.8% in the second quarter. Raymond James & Associates now owns 457,477 shares of the technology company's stock valued at $36,104,000 after purchasing an additional 62,460 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. StockNews.com cut Amdocs from a "strong-buy" rating to a "buy" rating in a research note on Thursday, November 14th. Stifel Nicolaus started coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They set a "buy" rating and a $100.00 price objective for the company. Oppenheimer upped 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. 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 note on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.83.

Amdocs Stock Performance

Shares of DOX traded down $0.46 during mid-day trading on Friday, reaching $86.72. The company's stock had a trading volume of 500,218 shares, compared to its average volume of 753,368. The company has a current ratio of 1.20, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $94.04. The business has a 50-day simple moving average of $88.08 and a two-hundred day simple moving average of $84.09. The stock has a market cap of $10.19 billion, a P/E ratio of 20.45, a PEG ratio of 1.45 and a beta of 0.74.

Amdocs Dividend Announcement

The business also recently disclosed 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 2.21%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs's payout ratio is presently 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.