Verition Fund Management LLC Has $21.18 Million Stake in Amdocs Limited (NASDAQ:DOX)

Verition Fund Management LLC lifted its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 47.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 242,131 shares of the technology company’s stock after purchasing an additional 77,646 shares during the quarter. Verition Fund Management LLC’s holdings in Amdocs were worth $21,182,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Boston Trust Walden Corp boosted its position in Amdocs by 17.0% during the second 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 period. SG Americas Securities LLC grew its stake in 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 buying an additional 124,122 shares during the last quarter. Sargent Investment Group LLC acquired a new position in Amdocs in the 2nd quarter valued at $289,000. BDF Gestion bought a new position in Amdocs in the 2nd quarter worth $833,000. Finally, Raymond James & Associates lifted its position in Amdocs by 15.8% during the 2nd 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 last quarter. Institutional investors own 92.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus began coverage on Amdocs in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price target on the stock. Barclays lowered their target price on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Oppenheimer increased their price objective on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Amdocs has a consensus rating of “Moderate Buy” and an average price target of $101.83.

Amdocs Trading Down 0.5 %

Amdocs stock opened at $86.72 on Friday. The stock has a market cap of $10.19 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 1.46 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 12 month low of $74.41 and a 12 month high of $94.04. The business has a 50 day moving average price of $88.08 and a two-hundred day moving average price of $84.07.

Amdocs Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Tuesday, December 31st. Amdocs’s dividend payout ratio is 45.05%.

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.