Amdocs Limited (NASDAQ:DOX) Stock Holdings Decreased by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. cut its stake in shares of Amdocs Limited (NASDAQ:DOX) by 14.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 229,375 shares of the technology company’s stock after selling 39,408 shares during the period. Amdocs comprises approximately 1.5% of Valley Wealth Managers Inc.’s holdings, making the stock its 26th largest position. Valley Wealth Managers Inc.’s holdings in Amdocs were worth $20,066,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Pzena Investment Management LLC grew its position in Amdocs by 33.2% in the second quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock worth $447,287,000 after acquiring an additional 1,412,826 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Amdocs by 36.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company’s stock worth $277,818,000 after buying an additional 851,022 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of 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 buying an additional 576,168 shares during the last quarter. Brandes Investment Partners LP lifted its stake in shares of Amdocs by 31.1% in the second quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock worth $178,335,000 after buying an additional 536,359 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of Amdocs by 36.2% in the second quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company’s stock worth $132,253,000 after buying an additional 444,966 shares during the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DOX. 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 note on Thursday. Oppenheimer upped their target price on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday. StockNews.com cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, Stifel Nicolaus began coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price objective for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.83.

Amdocs Trading Down 0.6 %

Amdocs stock traded down $0.52 during trading hours on Friday, reaching $85.19. 29,196 shares of the company’s stock traded hands, compared to its average volume of 679,016. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $94.04. The firm has a market capitalization of $10.01 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.42 and a beta of 0.74. The firm’s 50 day moving average is $88.18 and its 200-day moving average is $83.94.

Amdocs Announces Dividend

The firm also recently announced 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. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a yield of 2.25%. 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.