State Street Corp Lowers Stock Holdings in Amdocs Limited (NASDAQ:DOX)

State Street Corp lowered its stake in Amdocs Limited (NASDAQ:DOX) by 10.5% during the third quarter, HoldingsChannel reports. The firm owned 1,510,179 shares of the technology company’s stock after selling 177,929 shares during the quarter. State Street Corp’s holdings in Amdocs were worth $132,827,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. lifted its position in Amdocs by 2.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 24,260 shares of the technology company’s stock valued at $1,915,000 after purchasing an additional 507 shares during the period. Blue Trust Inc. boosted its stake in shares of Amdocs by 18.0% in the second quarter. Blue Trust Inc. now owns 1,138 shares of the technology company’s stock valued at $90,000 after buying an additional 174 shares in the last quarter. Raymond James & Associates grew its holdings in Amdocs by 15.8% during the second quarter. Raymond James & Associates now owns 457,477 shares of the technology company’s stock worth $36,104,000 after acquiring an additional 62,460 shares during the period. Liberty One Investment Management LLC raised its position in Amdocs by 19.0% in the second quarter. Liberty One Investment Management LLC now owns 200,721 shares of the technology company’s stock worth $15,841,000 after acquiring an additional 32,057 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in Amdocs by 10.3% in the second quarter. Fifth Third Bancorp now owns 10,712 shares of the technology company’s stock valued at $845,000 after acquiring an additional 996 shares during the period. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Amdocs Trading Down 1.3 %

Shares of DOX opened at $87.30 on Friday. 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 stock has a market cap of $10.26 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 1.45 and a beta of 0.72. The firm has a 50 day simple moving average of $88.05 and a 200-day simple moving average of $84.51.

Amdocs Announces Dividend

The business 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 annualized dividend and a yield of 2.19%. The ex-dividend date is Tuesday, December 31st. Amdocs’s payout ratio is 45.28%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DOX. Oppenheimer increased their price target on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Stifel Nicolaus assumed coverage on shares of Amdocs in a research report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price target for the company. 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, StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.20.

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.