Nordea Investment Management AB Increases Stake in Amdocs Limited (NASDAQ:DOX)

Nordea Investment Management AB increased its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,656,055 shares of the technology company's stock after purchasing an additional 127,426 shares during the period. Nordea Investment Management AB owned approximately 1.47% of Amdocs worth $141,112,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. First Horizon Advisors Inc. grew its stake in Amdocs by 1.9% during the third quarter. First Horizon Advisors Inc. now owns 5,902 shares of the technology company's stock worth $516,000 after buying an additional 109 shares in the last quarter. Private Trust Co. NA increased its stake in shares of Amdocs by 62.9% in the third quarter. Private Trust Co. NA now owns 303 shares of the technology company's stock valued at $27,000 after buying an additional 117 shares during the period. Natixis Advisors LLC raised its holdings in Amdocs by 0.4% during the 2nd quarter. Natixis Advisors LLC now owns 27,246 shares of the technology company's stock worth $2,150,000 after purchasing an additional 120 shares during the last quarter. Morton Community Bank raised its stake in Amdocs by 0.4% during the third quarter. Morton Community Bank now owns 36,410 shares of the technology company's stock worth $3,185,000 after buying an additional 130 shares during the last quarter. Finally, Y.D. More Investments Ltd boosted its position in shares of Amdocs by 1.5% during the 2nd quarter. Y.D. More Investments Ltd now owns 9,389 shares of the technology company's stock valued at $741,000 after purchasing an additional 139 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company's stock.

Analyst Upgrades and Downgrades

DOX has been the subject of several research reports. StockNews.com upgraded Amdocs from a "buy" rating to a "strong-buy" rating in a research note on Monday. Stifel Nicolaus initiated coverage on Amdocs in a research report on Wednesday, October 2nd. They set a "buy" rating and a $100.00 price target for the company. Oppenheimer raised their price target on shares of Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Finally, Barclays cut their target price on shares of Amdocs from $113.00 to $111.00 and set an "overweight" rating for the company in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $101.20.

Amdocs Price Performance

NASDAQ DOX traded down $0.29 during trading on Tuesday, reaching $84.18. The company's stock had a trading volume of 478,589 shares, compared to its average volume of 484,322. The stock has a market capitalization of $9.50 billion, a PE ratio of 19.85, a P/E/G ratio of 1.45 and a beta of 0.71. 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 has a fifty day moving average of $87.03 and a 200 day moving average of $85.57. Amdocs Limited has a one year low of $74.41 and a one year high of $94.04.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.479 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 annualized dividend and a yield of 2.28%. Amdocs's payout ratio is presently 45.05%.

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.