Meeder Asset Management Inc. Buys Shares of 875 Amdocs Limited (NASDAQ:DOX)

Meeder Asset Management Inc. bought a new position in Amdocs Limited (NASDAQ:DOX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 875 shares of the technology company’s stock, valued at approximately $77,000.

Other hedge funds also recently modified their holdings of the company. Pzena Investment Management LLC boosted its holdings in Amdocs by 33.2% in the second quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock worth $447,287,000 after purchasing an additional 1,412,826 shares in the last quarter. LSV Asset Management lifted its position in shares of Amdocs by 7.9% in the second quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock worth $253,109,000 after buying an additional 234,096 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Amdocs by 36.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company’s stock worth $277,818,000 after acquiring an additional 851,022 shares in the last quarter. Brandes Investment Partners LP increased its holdings in shares of Amdocs by 31.1% during the 2nd quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock valued at $178,335,000 after acquiring an additional 536,359 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Amdocs by 39.5% in the 1st quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock valued at $183,771,000 after acquiring an additional 576,168 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Trading Up 1.0 %

Shares of Amdocs stock opened at $83.73 on Thursday. The company’s fifty day simple moving average is $88.07 and its 200-day simple moving average is $83.95. The company has a market cap of $9.84 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 1.39 and a beta of 0.74. The company has a current ratio of 1.20, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $94.04.

Amdocs Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DOX. StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Stifel Nicolaus initiated coverage on Amdocs in a report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price target on the stock. Barclays lowered their price target on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Finally, Oppenheimer increased their price target on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently 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.