Amdocs Limited (NASDAQ:DOX) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. grew its position in Amdocs Limited (NASDAQ:DOX - Free Report) by 71.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 152,230 shares of the technology company's stock after acquiring an additional 63,527 shares during the period. Franklin Resources Inc. owned about 0.13% of Amdocs worth $13,580,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Janus Henderson Group PLC increased its holdings in Amdocs by 1.7% in the 3rd quarter. Janus Henderson Group PLC now owns 6,625,875 shares of the technology company's stock worth $579,632,000 after acquiring an additional 111,357 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in Amdocs by 12.3% in the 3rd quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company's stock valued at $556,700,000 after purchasing an additional 696,136 shares in the last quarter. LSV Asset Management boosted its stake in 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 purchasing an additional 234,096 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Amdocs by 36.6% during the third 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. Finally, Brandes Investment Partners LP lifted its stake in shares of Amdocs by 31.1% in the second 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. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Stock Up 1.0 %

Shares of Amdocs stock traded up $0.86 during trading on Friday, hitting $87.01. 1,393,095 shares of the stock were exchanged, compared to its average volume of 684,263. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.24. The firm's 50-day moving average price is $87.93 and its 200 day moving average price is $84.81. The stock has a market cap of $10.23 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 1.45 and a beta of 0.72. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $94.04.

Amdocs Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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 yield of 2.20%. Amdocs's dividend payout ratio is currently 45.05%.

Analyst Ratings Changes

Several research firms have recently commented on DOX. Barclays reduced their price target on Amdocs from $113.00 to $111.00 and set an "overweight" rating on the stock in a report on Thursday, November 14th. Oppenheimer raised their target price on Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Stifel Nicolaus started coverage on Amdocs in a research note on Wednesday, October 2nd. They issued a "buy" rating and a $100.00 price target on the stock. Finally, StockNews.com downgraded Amdocs from a "strong-buy" rating to a "buy" rating in a research report on Thursday, November 14th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.