Amdocs Limited (NASDAQ:DOX) is Wedge Capital Management L L P NC's 4th Largest Position

Wedge Capital Management L L P NC grew its holdings in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 15.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 818,021 shares of the technology company's stock after purchasing an additional 107,349 shares during the period. Amdocs makes up approximately 1.3% of Wedge Capital Management L L P NC's holdings, making the stock its 4th largest position. Wedge Capital Management L L P NC owned approximately 0.72% of Amdocs worth $69,646,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Janus Henderson Group PLC increased its stake in Amdocs by 1.7% during the 3rd quarter. Janus Henderson Group PLC now owns 6,625,875 shares of the technology company's stock valued at $579,632,000 after purchasing an additional 111,357 shares in the last quarter. Pzena Investment Management LLC increased its position in shares of Amdocs by 12.3% during the third quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company's stock valued at $556,700,000 after acquiring an additional 696,136 shares in the last quarter. Allspring Global Investments Holdings LLC raised 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 acquiring an additional 851,022 shares during the last quarter. Brandes Investment Partners LP lifted its position 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 valued at $178,335,000 after acquiring an additional 536,359 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Amdocs by 0.8% during the 3rd quarter. Wellington Management Group LLP now owns 2,136,932 shares of the technology company's stock valued at $186,939,000 after purchasing an additional 16,580 shares during the last quarter. 92.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DOX has been the topic of several research analyst reports. StockNews.com cut shares of Amdocs from a "strong-buy" rating to a "buy" rating in a research note on Tuesday. Stifel Nicolaus initiated coverage on shares of Amdocs in a report on Wednesday, October 2nd. They issued a "buy" rating and a $100.00 target price on the stock. Oppenheimer boosted their target price on shares of Amdocs from $98.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Finally, Barclays dropped their price target 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 analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $101.20.

Amdocs Stock Performance

Shares of DOX stock traded up $0.21 during mid-day trading on Friday, reaching $84.89. 329,203 shares of the company's stock traded hands, compared to its average volume of 579,327. Amdocs Limited has a 12 month low of $74.41 and a 12 month high of $94.04. The firm has a 50 day moving average price of $86.03 and a two-hundred day moving average price of $85.86. The firm has a market capitalization of $9.58 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 1.37 and a beta of 0.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.20 and a current ratio of 1.20.

Amdocs Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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 2.26%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs's payout ratio is 45.28%.

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.