Amdocs Limited (NASDAQ:DOX) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lessened its holdings in Amdocs Limited (NASDAQ:DOX) by 8.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,295 shares of the technology company’s stock after selling 3,160 shares during the quarter. Advisors Asset Management Inc.’s holdings in Amdocs were worth $3,000,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DOX. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Amdocs during the 3rd quarter worth $2,911,000. Howe & Rusling Inc. lifted its stake in shares of Amdocs by 13.5% in the third quarter. Howe & Rusling Inc. now owns 104,543 shares of the technology company’s stock valued at $9,145,000 after purchasing an additional 12,447 shares during the period. Banque Cantonale Vaudoise boosted its holdings in Amdocs by 37.3% during the third quarter. Banque Cantonale Vaudoise now owns 23,189 shares of the technology company’s stock worth $2,029,000 after buying an additional 6,296 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Amdocs during the third quarter worth about $77,000. Finally, Seizert Capital Partners LLC increased its holdings in Amdocs by 19.1% in the third quarter. Seizert Capital Partners LLC now owns 490,655 shares of the technology company’s stock valued at $42,922,000 after buying an additional 78,773 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Stock Up 0.6 %

NASDAQ DOX opened at $85.67 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $94.04. The business has a 50 day moving average price of $88.03 and a two-hundred day moving average price of $83.96. The stock has a market cap of $10.07 billion, a PE ratio of 20.21, a P/E/G ratio of 1.42 and a beta of 0.74.

Amdocs Dividend Announcement

The firm 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 2.24%. Amdocs’s dividend payout ratio is presently 45.28%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Oppenheimer boosted their price target on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Stifel Nicolaus assumed coverage on Amdocs in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price target for the company. Finally, Barclays decreased their price objective 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. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.83.

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.