Integrated Wealth Concepts LLC Boosts Stake in Amdocs Limited (NASDAQ:DOX)

Integrated Wealth Concepts LLC grew its holdings in Amdocs Limited (NASDAQ:DOX - Free Report) by 77.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,379 shares of the technology company's stock after acquiring an additional 8,439 shares during the period. Integrated Wealth Concepts LLC's holdings in Amdocs were worth $1,695,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DOX. Pzena Investment Management LLC boosted its position in shares of Amdocs by 33.2% in the second quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company's stock worth $447,287,000 after purchasing an additional 1,412,826 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in 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 worth $277,818,000 after buying an additional 851,022 shares during the period. Brandes Investment Partners LP increased its stake in Amdocs by 31.1% in the 2nd 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. Pacer Advisors Inc. raised its holdings in Amdocs by 36.2% during the second quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company's stock valued at $132,253,000 after acquiring an additional 444,966 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in Amdocs by 123.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 759,136 shares of the technology company's stock valued at $66,409,000 after acquiring an additional 419,045 shares during the period. Hedge funds and other institutional investors own 92.02% of the company's stock.

Amdocs Trading Down 0.5 %

Amdocs stock traded down $0.41 during mid-day trading on Friday, hitting $86.64. The company's stock had a trading volume of 779,784 shares, compared to its average volume of 760,323. 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 50 day moving average of $88.12 and a 200-day moving average of $84.28. Amdocs Limited has a one year low of $74.41 and a one year high of $94.04. The stock has a market cap of $10.18 billion, a PE ratio of 20.43, a P/E/G ratio of 1.46 and a beta of 0.72.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors 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 2.21%. Amdocs's dividend payout ratio (DPR) is currently 45.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DOX shares. Barclays lowered their target price on shares of Amdocs from $113.00 to $111.00 and set an "overweight" rating on the stock in a report on Thursday, November 14th. Stifel Nicolaus assumed coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They issued a "buy" rating and a $100.00 price target on the stock. Oppenheimer raised their price objective on Amdocs from $98.00 to $105.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Finally, StockNews.com downgraded Amdocs from a "strong-buy" rating to a "buy" rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.20.

Amdocs Profile

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.