Pzena Investment Management LLC Purchases 696,136 Shares of Amdocs Limited (NASDAQ:DOX)

Pzena Investment Management LLC increased its position in shares of Amdocs Limited (NASDAQ:DOX) by 12.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 6,363,739 shares of the technology company’s stock after acquiring an additional 696,136 shares during the period. Amdocs makes up about 1.8% of Pzena Investment Management LLC’s portfolio, making the stock its 25th largest holding. Pzena Investment Management LLC owned about 0.05% of Amdocs worth $556,700,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Boston Trust Walden Corp raised its stake in shares of Amdocs by 17.0% during the 2nd quarter. Boston Trust Walden Corp now owns 618,387 shares of the technology company’s stock worth $48,803,000 after acquiring an additional 89,726 shares in the last quarter. SG Americas Securities LLC increased its stake in Amdocs by 402.4% during the 2nd quarter. SG Americas Securities LLC now owns 154,968 shares of the technology company’s stock valued at $12,230,000 after purchasing an additional 124,122 shares in the last quarter. Sargent Investment Group LLC acquired a new stake in shares of Amdocs in the second quarter worth $289,000. BDF Gestion acquired a new stake in shares of Amdocs in the second quarter worth $833,000. Finally, Raymond James & Associates increased its stake in shares of Amdocs by 15.8% in the second quarter. Raymond James & Associates now owns 457,477 shares of the technology company’s stock worth $36,104,000 after acquiring an additional 62,460 shares during the period. Institutional investors own 92.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DOX shares. StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Barclays lowered their price target 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. Oppenheimer increased their price target on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Stifel Nicolaus started coverage on shares of Amdocs in a report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price target on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Amdocs currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.83.

Amdocs Price Performance

Shares of NASDAQ:DOX traded up $0.25 during midday trading on Wednesday, hitting $83.19. The company’s stock had a trading volume of 85,667 shares, compared to its average volume of 681,007. The business’s 50 day simple moving average is $88.07 and its 200 day simple moving average is $83.95. 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 cap of $9.78 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 1.39 and a beta of 0.74. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $94.04.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.479 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Tuesday, December 31st. 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.