17,031 Shares in Amdocs Limited (NASDAQ:DOX) Acquired by ARGA Investment Management LP

ARGA Investment Management LP bought a new position in shares of Amdocs Limited (NASDAQ:DOX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,031 shares of the technology company’s stock, valued at approximately $1,490,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Private Trust Co. NA boosted its stake in Amdocs by 62.9% in the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock worth $27,000 after buying an additional 117 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Amdocs in the third quarter valued at $28,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Amdocs during the third quarter valued at about $55,000. GAMMA Investing LLC raised its position in shares of Amdocs by 115.1% in the 3rd quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after purchasing an additional 428 shares in the last quarter. Finally, American National Bank bought a new position in Amdocs during the 2nd quarter valued at $76,000. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Amdocs Price Performance

DOX opened at $86.72 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 one year low of $74.41 and a one year high of $94.04. The stock has a market capitalization of $10.19 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 1.45 and a beta of 0.74. The company’s 50 day simple moving average is $88.08 and its 200-day simple moving average is $84.09.

Amdocs Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued 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 dividend yield of 2.21%. Amdocs’s payout ratio is presently 45.28%.

Wall Street Analyst Weigh In

Several analysts have weighed in on DOX shares. Stifel Nicolaus began coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They set a “buy” rating and a $100.00 target price for the company. StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Oppenheimer boosted their target price on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Barclays cut their price target on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.