Amdocs Limited (NASDAQ:DOX) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P lessened its holdings in Amdocs Limited (NASDAQ:DOX) by 13.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 277,813 shares of the technology company’s stock after selling 43,403 shares during the period. Martingale Asset Management L P’s holdings in Amdocs were worth $24,303,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Isthmus Partners LLC acquired a new position in shares of Amdocs in the 3rd quarter valued at $324,000. Northwest & Ethical Investments L.P. lifted its stake in shares of Amdocs by 10.3% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 176,035 shares of the technology company’s stock valued at $15,400,000 after purchasing an additional 16,419 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 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 purchasing an additional 250,918 shares during the last quarter. Financial Counselors Inc. lifted its stake in shares of 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 purchasing an additional 459 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Amdocs in the 3rd quarter valued at $131,000. Institutional investors and hedge funds own 92.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DOX. Stifel Nicolaus initiated coverage on Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price target on the stock. Oppenheimer increased their target price 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 lowered Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Barclays decreased their target price 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 investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $101.83.

Amdocs Price Performance

Shares of NASDAQ DOX opened at $87.18 on Friday. The stock’s 50-day moving average is $88.07 and its two-hundred day moving average is $84.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.24. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $94.04. The company has a market cap of $10.25 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 1.46 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. Stockholders of record on Tuesday, December 31st will be issued a $0.479 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.20%. Amdocs’s payout ratio is currently 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.