Townsquare Capital LLC Trims Stock Position in Amdocs Limited (NASDAQ:DOX)

Townsquare Capital LLC lessened its holdings in Amdocs Limited (NASDAQ:DOX) by 10.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,638 shares of the technology company’s stock after selling 656 shares during the period. Townsquare Capital LLC’s holdings in Amdocs were worth $493,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Private Trust Co. NA raised its position in shares of Amdocs by 62.9% in the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after buying an additional 117 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Amdocs in the third quarter valued at approximately $28,000. Catalyst Capital Advisors LLC acquired a new position in shares of Amdocs in the third quarter valued at approximately $55,000. GAMMA Investing LLC raised its position in shares of Amdocs by 115.1% in the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after buying an additional 428 shares during the last quarter. Finally, American National Bank acquired a new position in shares of Amdocs in the second quarter valued at approximately $76,000. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DOX. StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Barclays dropped their price target on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Stifel Nicolaus began coverage on shares of Amdocs in a research report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price target for the company. Finally, Oppenheimer upped their price target on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Amdocs has a consensus rating of “Moderate Buy” and a consensus target price of $101.20.

Amdocs Price Performance

Amdocs stock opened at $87.32 on Thursday. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $94.04. The firm has a fifty day moving average of $88.15 and a 200-day moving average of $84.20. The firm has a market capitalization of $10.26 billion, a P/E ratio of 20.59, a PEG ratio of 1.46 and a beta of 0.72. The company has a quick ratio of 1.24, a current ratio of 1.20 and a debt-to-equity ratio of 0.21.

Amdocs Dividend Announcement

The firm 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 $0.479 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Tuesday, December 31st. Amdocs’s payout ratio is currently 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.