Geode Capital Management LLC Boosts Stock Position in Amdocs Limited (NASDAQ:DOX)

Geode Capital Management LLC boosted its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 10.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,633,733 shares of the technology company's stock after purchasing an additional 158,843 shares during the quarter. Geode Capital Management LLC owned about 1.39% of Amdocs worth $143,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Private Trust Co. NA boosted its holdings in Amdocs by 62.9% in the third quarter. Private Trust Co. NA now owns 303 shares of the technology company's stock worth $27,000 after acquiring an additional 117 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Amdocs in the third quarter worth about $28,000. Catalyst Capital Advisors LLC acquired a new stake in Amdocs in the third quarter worth about $55,000. GAMMA Investing LLC boosted its holdings in Amdocs by 115.1% in the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company's stock worth $70,000 after acquiring an additional 428 shares in the last quarter. Finally, American National Bank acquired a new stake in Amdocs in the second quarter worth about $76,000. Institutional investors own 92.02% of the company's stock.

Amdocs Stock Performance

Shares of NASDAQ:DOX traded down $0.26 during trading on Tuesday, hitting $86.92. The stock had a trading volume of 600,079 shares, compared to its average volume of 678,613. The stock has a 50-day simple moving average of $88.04 and a two-hundred day simple moving average of $84.61. The company has a quick ratio of 1.24, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $10.22 billion, a price-to-earnings ratio of 20.56, 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. Investors of record on Tuesday, December 31st will be given a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a yield of 2.20%. The ex-dividend date is Tuesday, December 31st. Amdocs's dividend payout ratio is currently 45.05%.

Wall Street Analysts Forecast Growth

DOX has been the subject of several recent analyst reports. StockNews.com downgraded Amdocs from a "strong-buy" rating to a "buy" rating in a report on Thursday, November 14th. Stifel Nicolaus started coverage on Amdocs in a research note on Wednesday, October 2nd. They issued a "buy" rating and a $100.00 price objective for the company. Oppenheimer raised their price objective on Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Finally, Barclays reduced their price objective 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 analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus 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.