Wedge Capital Management L L P NC Raises Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Wedge Capital Management L L P NC raised its position in Amdocs Limited (NASDAQ:DOX) by 15.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 818,021 shares of the technology company’s stock after purchasing an additional 107,349 shares during the quarter. Amdocs accounts for about 1.3% of Wedge Capital Management L L P NC’s holdings, making the stock its 4th biggest holding. Wedge Capital Management L L P NC owned about 0.72% of Amdocs worth $69,646,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Private Trust Co. NA increased its position in shares of Amdocs by 62.9% during the third 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 period. Brooklyn Investment Group bought a new stake in Amdocs during the third quarter valued at $28,000. Catalyst Capital Advisors LLC bought a new position in shares of Amdocs in the 3rd quarter worth about $55,000. GAMMA Investing LLC lifted its stake 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 during the period. Finally, Meeder Asset Management Inc. bought a new stake in shares of Amdocs during the 3rd quarter valued at about $77,000. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Stock Performance

Shares of Amdocs stock opened at $84.89 on Friday. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $86.03 and a 200-day moving average price of $85.81. The company has a market cap of $9.58 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 1.37 and a beta of 0.71.

Amdocs Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a yield of 2.26%. The ex-dividend date is Tuesday, December 31st. Amdocs’s dividend payout ratio (DPR) is presently 45.28%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Oppenheimer lifted their price target on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Stifel Nicolaus initiated coverage on shares of Amdocs in a research report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price objective on the stock. Finally, Barclays cut 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. 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 has an average rating of “Moderate Buy” and an average price target of $101.20.

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.