State Street Corp Lowers Stock Holdings in Amdocs Limited (NASDAQ:DOX)

State Street Corp cut its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 10.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,510,179 shares of the technology company’s stock after selling 177,929 shares during the period. State Street Corp owned about 1.28% of Amdocs worth $132,827,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in DOX. Janus Henderson Group PLC increased its holdings in Amdocs by 1.7% during the 3rd quarter. Janus Henderson Group PLC now owns 6,625,875 shares of the technology company’s stock worth $579,632,000 after purchasing an additional 111,357 shares during the period. Pzena Investment Management LLC increased its stake in shares of Amdocs by 12.3% during the third quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company’s stock worth $556,700,000 after buying an additional 696,136 shares during the period. LSV Asset Management raised its holdings in Amdocs by 7.9% in the second quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock valued at $253,109,000 after acquiring an additional 234,096 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in 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 acquiring an additional 851,022 shares during the last quarter. Finally, Brandes Investment Partners LP grew its holdings in Amdocs by 31.1% during the 2nd quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock worth $178,335,000 after acquiring an additional 536,359 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Stock Performance

Shares of DOX stock opened at $87.30 on Friday. The stock’s 50-day moving average is $88.05 and its two-hundred day moving average is $84.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.20. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $94.04. The firm has a market cap of $10.26 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 1.45 and a beta of 0.72.

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 issued 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%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on DOX shares. Barclays reduced their price objective on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Stifel Nicolaus started coverage on Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price target on the stock. StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Oppenheimer raised their target price on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.