Amdocs Limited (NASDAQ:DOX) Stake Lifted by Verition Fund Management LLC

Verition Fund Management LLC increased its position in shares of Amdocs Limited (NASDAQ:DOX) by 47.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,131 shares of the technology company’s stock after purchasing an additional 77,646 shares during the period. Verition Fund Management LLC owned 0.21% of Amdocs worth $21,182,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DOX. Private Trust Co. NA lifted its stake in Amdocs by 62.9% during the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after purchasing an additional 117 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Amdocs during the 3rd quarter valued at $28,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Amdocs during the 3rd quarter valued at $55,000. GAMMA Investing LLC grew its holdings in shares of Amdocs by 115.1% in the 3rd quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock worth $70,000 after acquiring an additional 428 shares during the last quarter. Finally, American National Bank acquired a new stake in shares of Amdocs during the second quarter worth $76,000. 92.02% of the stock is owned by institutional investors.

Amdocs Stock Performance

DOX stock opened at $86.72 on Friday. The firm has a 50 day simple moving average of $88.08 and a 200 day simple moving average of $84.07. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The stock has a market cap of $10.19 billion, a P/E ratio of 20.45, a P/E/G ratio of 1.46 and a beta of 0.74. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs’s dividend payout ratio is currently 45.05%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DOX. Oppenheimer increased their price target on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Stifel Nicolaus started coverage on shares of Amdocs in a report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 target price for the company. StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Barclays decreased their price objective on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. One research 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.83.

Amdocs Company 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.