Massachusetts Financial Services Co. MA Decreases Position in Amdocs Limited (NASDAQ:DOX)

Massachusetts Financial Services Co. MA reduced its position in shares of Amdocs Limited (NASDAQ:DOX) by 0.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 472,068 shares of the technology company’s stock after selling 3,062 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Amdocs were worth $41,297,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Catalyst Capital Advisors LLC purchased a new stake in shares of Amdocs during the third quarter worth approximately $55,000. GAMMA Investing LLC grew its holdings in shares of Amdocs by 115.1% during the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock worth $70,000 after buying an additional 428 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Amdocs in the third quarter valued at about $77,000. American National Bank purchased a new position in shares of Amdocs in the second quarter worth about $76,000. Finally, Blue Trust Inc. boosted its position in Amdocs by 18.0% during the second quarter. Blue Trust Inc. now owns 1,138 shares of the technology company’s stock worth $90,000 after acquiring an additional 174 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Stock Performance

Shares of Amdocs stock opened at $85.67 on Monday. The firm has a market cap of $10.07 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74. 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 Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The business’s fifty day simple moving average is $88.03 and its 200-day simple moving average is $83.95.

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 paid a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a yield of 2.24%. The ex-dividend date is Tuesday, December 31st. Amdocs’s dividend payout ratio (DPR) is presently 45.28%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DOX. Barclays decreased their target price on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Oppenheimer upped their target price on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Stifel Nicolaus assumed coverage on Amdocs in a report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price target on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Amdocs has a consensus rating of “Moderate Buy” and an average price target of $101.83.

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.