Navellier & Associates Inc. Decreases Stake in Amdocs Limited (NASDAQ:DOX)

Navellier & Associates Inc. trimmed its position in shares of Amdocs Limited (NASDAQ:DOX) by 18.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,792 shares of the technology company’s stock after selling 1,103 shares during the period. Navellier & Associates Inc.’s holdings in Amdocs were worth $419,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Boston Trust Walden Corp lifted its position 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 purchasing an additional 89,726 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Amdocs by 402.4% in the 2nd quarter. SG Americas Securities LLC now owns 154,968 shares of the technology company’s stock valued at $12,230,000 after acquiring an additional 124,122 shares during the last quarter. Sargent Investment Group LLC purchased a new position in shares of Amdocs in the 2nd quarter valued at about $289,000. BDF Gestion acquired a new stake in shares of Amdocs during the 2nd quarter worth about $833,000. Finally, Raymond James & Associates lifted its stake in Amdocs by 15.8% during the second quarter. Raymond James & Associates now owns 457,477 shares of the technology company’s stock worth $36,104,000 after purchasing an additional 62,460 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Price Performance

Shares of NASDAQ:DOX opened at $85.15 on Friday. 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 one year low of $74.41 and a one year high of $94.04. The company has a 50-day simple moving average of $88.05 and a 200-day simple moving average of $83.95. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 1.37 and a beta of 0.74.

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 $0.479 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.92 annualized dividend and a dividend yield of 2.25%. Amdocs’s dividend payout ratio (DPR) is currently 45.28%.

Analyst Upgrades and Downgrades

Several brokerages have commented on DOX. Oppenheimer increased their price target on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Barclays reduced 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. Finally, Stifel Nicolaus initiated coverage on Amdocs in a report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price objective on the stock. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.83.

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.