State Street Corp Has $132.83 Million Stock Position in Amdocs Limited (NASDAQ:DOX)

State Street Corp reduced its position in Amdocs Limited (NASDAQ:DOX - Free Report) by 10.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,510,179 shares of the technology company's stock after selling 177,929 shares during the quarter. State Street Corp owned about 1.28% of Amdocs worth $132,827,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Private Trust Co. NA grew its position in Amdocs by 62.9% during the third quarter. Private Trust Co. NA now owns 303 shares of the technology company's stock worth $27,000 after buying an additional 117 shares during the period. Brooklyn Investment Group purchased a new position in Amdocs in the 3rd quarter valued at approximately $28,000. Catalyst Capital Advisors LLC purchased a new stake in Amdocs during the third quarter worth $55,000. GAMMA Investing LLC grew its holdings in Amdocs by 115.1% in the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company's stock valued at $70,000 after purchasing an additional 428 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Amdocs in the third quarter valued at $77,000. Institutional investors and hedge funds own 92.02% of the company's stock.

Amdocs Price Performance

DOX stock traded down $1.14 on Friday, hitting $87.30. 554,903 shares of the company's stock traded hands, compared to its average volume of 679,075. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $94.04. The stock has a market cap of $10.26 billion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 1.45 and a beta of 0.72. The stock has a fifty day moving average of $88.05 and a 200-day moving average of $84.51. The company has a current ratio of 1.20, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21.

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.479 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.92 annualized dividend and a yield of 2.19%. Amdocs's payout ratio is presently 45.05%.

Analyst Upgrades and Downgrades

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

Amdocs Company 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.