Wellington Management Group LLP Increases Position in Amdocs Limited (NASDAQ:DOX)

Wellington Management Group LLP raised its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,136,932 shares of the technology company's stock after acquiring an additional 16,580 shares during the quarter. Wellington Management Group LLP owned approximately 1.82% of Amdocs worth $186,939,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of DOX. Pzena Investment Management LLC lifted its holdings in shares of Amdocs by 33.2% during the 2nd quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company's stock valued at $447,287,000 after purchasing an additional 1,412,826 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake 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 raised 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 acquiring an additional 536,359 shares during the last quarter. Pacer Advisors Inc. raised its stake in Amdocs by 36.2% in the 2nd quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company's stock worth $132,253,000 after acquiring an additional 444,966 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in Amdocs by 123.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 759,136 shares of the technology company's stock worth $66,409,000 after acquiring an additional 419,045 shares during the last quarter. Institutional investors own 92.02% of the company's stock.

Wall Street Analyst Weigh In

DOX has been the subject of a number of research analyst reports. Barclays reduced their target price on Amdocs from $113.00 to $111.00 and set an "overweight" rating for the company in a research note on Thursday, November 14th. Oppenheimer lifted their price objective on Amdocs from $98.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. StockNews.com lowered Amdocs from a "strong-buy" rating to a "buy" rating in a research note on Thursday, November 14th. Finally, Stifel Nicolaus began coverage on Amdocs in a research note on Wednesday, October 2nd. They set a "buy" rating and a $100.00 price objective for the company. 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 presently has an average rating of "Moderate Buy" and an average price target of $101.20.

Amdocs Price Performance

Shares of NASDAQ:DOX traded up $0.04 during trading on Monday, reaching $86.68. 492,370 shares of the company's stock traded hands, compared to its average volume of 678,052. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $94.04. The company has a quick ratio of 1.24, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. The firm has a market cap of $10.19 billion, a PE ratio of 20.43, a P/E/G ratio of 1.44 and a beta of 0.72. The company has a 50-day simple moving average of $88.12 and a 200-day simple moving average of $84.28.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs's dividend payout ratio is currently 45.28%.

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.