Hilton Capital Management LLC Sells 898 Shares of Amdocs Limited (NASDAQ:DOX)

Hilton Capital Management LLC decreased its position in Amdocs Limited (NASDAQ:DOX) by 5.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,833 shares of the technology company’s stock after selling 898 shares during the quarter. Hilton Capital Management LLC’s holdings in Amdocs were worth $1,473,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Catalyst Capital Advisors LLC acquired a new stake in Amdocs during the 3rd quarter valued at $55,000. GAMMA Investing LLC grew its stake in shares of Amdocs by 115.1% during the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock worth $70,000 after buying an additional 428 shares during the last quarter. American National Bank acquired a new position in shares of Amdocs in the second quarter valued at approximately $76,000. Meeder Asset Management Inc. bought a new position in Amdocs during the 3rd quarter worth $77,000. Finally, Blue Trust Inc. raised 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 worth $90,000 after purchasing an additional 174 shares during the last quarter. Institutional investors own 92.02% of the company’s stock.

Amdocs Price Performance

DOX opened at $83.73 on Thursday. 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 company’s 50-day simple moving average is $88.07 and its two-hundred day simple moving average is $83.95. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $94.04. The stock has a market capitalization of $9.84 billion, a P/E ratio of 19.75, a P/E/G ratio of 1.39 and a beta of 0.74.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs’s payout ratio is currently 45.05%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DOX. Barclays cut their target price on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Stifel Nicolaus started coverage on Amdocs in a research report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price target on the stock. StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Oppenheimer upped their target price 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. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Amdocs has an average rating of “Moderate Buy” and a consensus target price 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.