Amdocs Limited (NASDAQ:DOX) Shares Sold by First Business Financial Services Inc.

First Business Financial Services Inc. trimmed its holdings in Amdocs Limited (NASDAQ:DOX) by 14.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,450 shares of the technology company’s stock after selling 768 shares during the quarter. First Business Financial Services Inc.’s holdings in Amdocs were worth $389,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC purchased a new position in Amdocs in the 3rd quarter valued at approximately $55,000. GAMMA Investing LLC increased its holdings in Amdocs by 115.1% in the 3rd quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after purchasing an additional 428 shares in the last quarter. American National Bank acquired a new position in Amdocs during the 2nd quarter worth approximately $76,000. Blue Trust Inc. grew its holdings in Amdocs by 18.0% during the 2nd quarter. Blue Trust Inc. now owns 1,138 shares of the technology company’s stock valued at $90,000 after purchasing an additional 174 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Amdocs by 24.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,215 shares of the technology company’s stock worth $175,000 after acquiring an additional 440 shares during the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Stock Down 2.3 %

Shares of DOX opened at $85.71 on Friday. The business’s 50 day simple moving average is $88.18 and its 200-day simple moving average is $83.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.24 and a quick ratio of 1.24. Amdocs Limited has a one year low of $74.41 and a one year high of $94.04. The company has a market capitalization of $10.07 billion, a P/E ratio of 20.21, a PEG ratio of 1.42 and a beta of 0.74.

Amdocs Dividend Announcement

The company 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 is Tuesday, December 31st. This represents a $1.92 annualized dividend and a yield of 2.24%. Amdocs’s dividend payout ratio is currently 45.28%.

Analysts Set New Price Targets

A number of research analysts have commented on DOX shares. Barclays reduced their price objective on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday. Oppenheimer boosted their target price on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday. StockNews.com cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus initiated coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price objective for the company. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.83.

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.