BNP Paribas Financial Markets Sells 27,723 Shares of Amdocs Limited (NASDAQ:DOX)

BNP Paribas Financial Markets lowered its stake in shares of Amdocs Limited (NASDAQ:DOX) by 18.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 120,896 shares of the technology company’s stock after selling 27,723 shares during the quarter. BNP Paribas Financial Markets’ holdings in Amdocs were worth $10,576,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of DOX. Pzena Investment Management LLC raised its stake in shares of Amdocs by 33.2% in the second quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock valued at $447,287,000 after acquiring an additional 1,412,826 shares during the period. Allspring Global Investments Holdings LLC raised its position in Amdocs by 36.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company’s stock worth $277,818,000 after purchasing an additional 851,022 shares during the period. Brandes Investment Partners LP raised its position in Amdocs by 31.1% in the 2nd quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock worth $178,335,000 after purchasing an additional 536,359 shares during the period. Pacer Advisors Inc. boosted its position in shares of Amdocs by 36.2% during the second quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company’s stock valued at $132,253,000 after buying an additional 444,966 shares during the period. Finally, LSV Asset Management grew its stake in shares of Amdocs by 7.9% during the second quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock valued at $253,109,000 after buying an additional 234,096 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DOX has been the subject of a number of recent analyst reports. Barclays dropped their price objective on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. StockNews.com cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Stifel Nicolaus initiated coverage on shares of Amdocs in a report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price objective for the company. Finally, Oppenheimer upped their target price on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.20.

Amdocs Trading Down 0.5 %

NASDAQ DOX opened at $86.72 on Monday. Amdocs Limited has a one year low of $74.41 and a one year high of $94.04. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.20. The company has a market capitalization of $10.19 billion, a price-to-earnings 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 two-hundred day simple moving average is $84.10.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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 yield of 2.21%. Amdocs’s dividend payout ratio is currently 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.