Northwest & Ethical Investments L.P. Acquires 16,419 Shares of Amdocs Limited (NASDAQ:DOX)

Northwest & Ethical Investments L.P. lifted its holdings in Amdocs Limited (NASDAQ:DOX) by 10.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 176,035 shares of the technology company’s stock after buying an additional 16,419 shares during the period. Northwest & Ethical Investments L.P. owned about 0.15% of Amdocs worth $15,400,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in DOX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Amdocs by 1,207.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 271,701 shares of the technology company’s stock valued at $23,768,000 after buying an additional 250,918 shares during the period. Financial Counselors Inc. boosted its position in Amdocs by 11.3% in the 3rd quarter. Financial Counselors Inc. now owns 4,535 shares of the technology company’s stock valued at $397,000 after buying an additional 459 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Amdocs in the 3rd quarter valued at about $131,000. Glenmede Trust Co. NA boosted its position in Amdocs by 18.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 157,780 shares of the technology company’s stock valued at $13,803,000 after buying an additional 24,442 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in Amdocs in the 3rd quarter valued at about $28,000. 92.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on DOX shares. Stifel Nicolaus started coverage on shares of Amdocs in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price objective for the company. Oppenheimer upped their price target on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. StockNews.com cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Barclays lowered their price target on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.83.

Amdocs Price Performance

Shares of NASDAQ DOX traded down $0.19 during mid-day trading on Thursday, reaching $87.18. The company’s stock had a trading volume of 730,329 shares, compared to its average volume of 682,025. The stock has a 50-day moving average of $88.08 and a two-hundred day moving average of $84.03. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.20. The stock has a market capitalization of $10.25 billion, a P/E ratio of 20.56, a P/E/G ratio of 1.46 and a beta of 0.74. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $94.04.

Amdocs Announces Dividend

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 2.20%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs’s dividend payout ratio (DPR) is presently 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.