Hotchkis & Wiley Capital Management LLC Buys 419,045 Shares of Amdocs Limited (NASDAQ:DOX)

Hotchkis & Wiley Capital Management LLC grew its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 123.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 759,136 shares of the technology company's stock after purchasing an additional 419,045 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.65% of Amdocs worth $66,409,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of DOX. Pzena Investment Management LLC grew its position in Amdocs by 33.2% during the 2nd quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company's stock worth $447,287,000 after acquiring an additional 1,412,826 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Amdocs by 36.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company's stock valued at $277,818,000 after buying an additional 851,022 shares during the last quarter. Brandes Investment Partners LP grew its position in shares of Amdocs by 31.1% in the 2nd quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company's stock valued at $178,335,000 after buying an additional 536,359 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Amdocs by 36.2% in the 2nd quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company's stock valued at $132,253,000 after buying an additional 444,966 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Amdocs by 1,207.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 271,701 shares of the technology company's stock valued at $23,768,000 after buying an additional 250,918 shares during the last quarter. Institutional investors own 92.02% of the company's stock.

Amdocs Trading Down 0.5 %

Shares of NASDAQ:DOX traded down $0.43 during midday trading on Tuesday, reaching $87.26. The company's stock had a trading volume of 516,813 shares, compared to its average volume of 679,764. The firm has a 50 day moving average price of $88.11 and a two-hundred day moving average price of $84.14. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two 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 firm has a market capitalization of $10.26 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 1.46 and a beta of 0.72.

Amdocs Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs's dividend payout ratio (DPR) is currently 45.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Oppenheimer upped their price target on Amdocs from $98.00 to $105.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Stifel Nicolaus assumed coverage on Amdocs in a research report on Wednesday, October 2nd. They issued a "buy" rating and a $100.00 price target on the stock. StockNews.com lowered Amdocs from a "strong-buy" rating to a "buy" rating in a research report on Thursday, November 14th. Finally, Barclays dropped their price objective on Amdocs from $113.00 to $111.00 and set an "overweight" rating on the stock in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Amdocs 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.