Commerce Bank Reduces Holdings in Amdocs Limited (NASDAQ:DOX)

Commerce Bank lowered its position in Amdocs Limited (NASDAQ:DOX) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,389 shares of the technology company’s stock after selling 380 shares during the quarter. Commerce Bank’s holdings in Amdocs were worth $1,084,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Catalyst Capital Advisors LLC purchased a new stake in shares of Amdocs during the third quarter worth $55,000. GAMMA Investing LLC grew its holdings in Amdocs by 115.1% during the 3rd quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after buying an additional 428 shares in the last quarter. American National Bank bought a new stake in shares of Amdocs during the second quarter valued at about $76,000. Meeder Asset Management Inc. purchased a new stake in shares of Amdocs in the third quarter worth about $77,000. Finally, Blue Trust Inc. boosted its position 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 acquiring an additional 174 shares during the period. 92.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DOX. Stifel Nicolaus assumed coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 target price on the stock. StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Barclays reduced their target price on 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 raised their price target on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Amdocs currently has an average rating of “Moderate Buy” and a consensus target price of $101.83.

Amdocs Stock Up 0.6 %

DOX opened at $85.67 on Monday. The business’s fifty day simple moving average is $88.03 and its 200 day simple moving average is $83.95. 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 1.24, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. The stock has a market cap of $10.07 billion, a PE ratio of 20.21, a P/E/G ratio of 1.42 and a beta of 0.74.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.479 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.92 annualized dividend and a dividend yield of 2.24%. Amdocs’s dividend payout ratio (DPR) is presently 45.28%.

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.