M&T Bank Corp Reduces Stock Holdings in Amdocs Limited (NASDAQ:DOX)

M&T Bank Corp reduced its stake in shares of Amdocs Limited (NASDAQ:DOX) by 0.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,667 shares of the technology company’s stock after selling 154 shares during the quarter. M&T Bank Corp’s holdings in Amdocs were worth $2,158,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DOX. Executive Wealth Management LLC boosted its position in Amdocs by 14.2% during the 3rd quarter. Executive Wealth Management LLC now owns 84,106 shares of the technology company’s stock valued at $7,358,000 after acquiring an additional 10,466 shares in the last quarter. Barclays PLC boosted its position in shares of Amdocs by 6.3% during the third quarter. Barclays PLC now owns 290,376 shares of the technology company’s stock valued at $25,402,000 after purchasing an additional 17,097 shares in the last quarter. Dean Investment Associates LLC grew its stake in Amdocs by 1,341.5% in the third quarter. Dean Investment Associates LLC now owns 42,136 shares of the technology company’s stock worth $3,686,000 after purchasing an additional 39,213 shares during the period. Orion Portfolio Solutions LLC raised its holdings in Amdocs by 12.5% in the third quarter. Orion Portfolio Solutions LLC now owns 46,013 shares of the technology company’s stock worth $4,025,000 after purchasing an additional 5,097 shares in the last quarter. Finally, XTX Topco Ltd lifted its position in Amdocs by 12.4% during the third quarter. XTX Topco Ltd now owns 15,161 shares of the technology company’s stock valued at $1,326,000 after buying an additional 1,670 shares during the period. 92.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays reduced their target price on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Oppenheimer upped their price objective on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Stifel Nicolaus assumed coverage on Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $101.20.

Amdocs Stock Down 1.3 %

Shares of Amdocs stock opened at $87.30 on Friday. The company has a 50-day simple moving average of $88.05 and a two-hundred day simple moving average of $84.51. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $94.04. 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 stock has a market capitalization of $10.26 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 1.45 and a beta of 0.72.

Amdocs Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.479 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 annualized dividend and a yield of 2.19%. Amdocs’s dividend payout ratio (DPR) is presently 45.28%.

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.