Massachusetts Financial Services Co. MA Trims Stake in Amdocs Limited (NASDAQ:DOX)

Massachusetts Financial Services Co. MA decreased its position in shares of Amdocs Limited (NASDAQ:DOX) by 0.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 472,068 shares of the technology company’s stock after selling 3,062 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.40% of Amdocs worth $41,297,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in DOX. Pzena Investment Management LLC raised its stake in Amdocs by 12.3% in the third quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company’s stock worth $556,700,000 after buying an additional 696,136 shares in the last quarter. LSV Asset Management lifted its stake in shares of Amdocs by 7.9% during the 2nd quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock worth $253,109,000 after purchasing an additional 234,096 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Amdocs by 36.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company’s stock valued at $277,818,000 after purchasing an additional 851,022 shares in the last quarter. Brandes Investment Partners LP grew its stake in Amdocs by 31.1% in the second quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock valued at $178,335,000 after purchasing an additional 536,359 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Amdocs by 39.5% in the first quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock worth $183,771,000 after purchasing an additional 576,168 shares in the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on DOX shares. Barclays cut 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. StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Oppenheimer raised their price objective on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus started coverage on Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price target for the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.83.

Amdocs Stock Up 0.6 %

Amdocs stock opened at $85.67 on Monday. The business’s 50-day simple moving average is $88.03 and its two-hundred day simple moving average is $83.95. 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 has a market cap of $10.07 billion, a PE ratio of 20.21, a PEG ratio of 1.42 and a beta of 0.74. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $94.04.

Amdocs Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs’s dividend payout ratio is presently 45.28%.

Amdocs Company 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.