Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 33,277 shares of the technology company's stock, valued at approximately $2,911,000.
Several other institutional investors also recently bought and sold shares of the stock. Catalyst Capital Advisors LLC bought a new position in Amdocs during the 3rd quarter valued at approximately $55,000. GAMMA Investing LLC raised its holdings in shares of Amdocs by 115.1% during the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company's stock valued at $70,000 after acquiring an additional 428 shares in the last quarter. American National Bank purchased a new stake in Amdocs in the second quarter worth $76,000. Meeder Asset Management Inc. bought a new stake in Amdocs in the third quarter valued at $77,000. Finally, Blue Trust Inc. increased its position in Amdocs by 18.0% during the 2nd quarter. Blue Trust Inc. now owns 1,138 shares of the technology company's stock valued at $90,000 after purchasing an additional 174 shares during the period. 92.02% of the stock is currently owned by hedge funds and other institutional investors.
Amdocs Stock Up 1.9 %
Shares of DOX traded up $1.63 during mid-day trading on Monday, reaching $87.30. The company had a trading volume of 823,360 shares, compared to its average volume of 682,111. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.20. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 1.43 and a beta of 0.74. The firm has a 50-day moving average price of $88.03 and a 200 day moving average price of $83.94.
Amdocs Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 annualized dividend and a dividend yield of 2.19%. Amdocs's dividend payout ratio is presently 45.05%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the stock. Oppenheimer lifted their target price on shares of Amdocs from $98.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Barclays lowered their price objective on shares of Amdocs from $113.00 to $111.00 and set an "overweight" rating for the company in a report on Thursday, November 14th. StockNews.com downgraded Amdocs from a "strong-buy" rating to a "buy" rating in a report on Thursday, November 14th. Finally, Stifel Nicolaus assumed coverage on Amdocs in a research note on Wednesday, October 2nd. They issued a "buy" rating and a $100.00 target price for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $101.83.
Read Our Latest Stock Analysis on DOX
Amdocs Company Profile
(
Free Report)
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.
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