Amdocs Limited (NASDAQ:DOX) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lessened its stake in Amdocs Limited (NASDAQ:DOX) by 32.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,312 shares of the technology company’s stock after selling 3,552 shares during the quarter. Fifth Third Bancorp’s holdings in Amdocs were worth $623,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Private Trust Co. NA increased its holdings in Amdocs by 62.9% in the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after buying an additional 117 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Amdocs in the 3rd quarter valued at about $28,000. Catalyst Capital Advisors LLC acquired a new position in Amdocs in the 3rd quarter worth about $55,000. GAMMA Investing LLC boosted its position in 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 purchasing an additional 428 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Amdocs in the third quarter valued at approximately $77,000. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 14th. Barclays reduced their price objective on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Finally, Oppenheimer lifted their target price on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.20.

Amdocs Trading Up 1.3 %

Shares of DOX stock opened at $87.46 on Friday. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $94.04. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.20 and a current ratio of 1.20. The stock’s fifty day moving average is $85.87 and its two-hundred day moving average is $86.25. The firm has a market capitalization of $9.87 billion, a P/E ratio of 20.63, a PEG ratio of 1.42 and a beta of 0.71.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.479 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a yield of 2.19%. Amdocs’s payout ratio is presently 45.28%.

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.