Geode Capital Management LLC Purchases 158,843 Shares of Amdocs Limited (NASDAQ:DOX)

Geode Capital Management LLC raised its position in shares of Amdocs Limited (NASDAQ:DOX) by 10.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,633,733 shares of the technology company’s stock after acquiring an additional 158,843 shares during the period. Geode Capital Management LLC’s holdings in Amdocs were worth $143,498,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Janus Henderson Group PLC increased its position in Amdocs by 1.7% during the third quarter. Janus Henderson Group PLC now owns 6,625,875 shares of the technology company’s stock worth $579,632,000 after acquiring an additional 111,357 shares during the period. Pzena Investment Management LLC grew its position in Amdocs by 12.3% in the 3rd quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company’s stock worth $556,700,000 after purchasing an additional 696,136 shares during the last quarter. LSV Asset Management increased its holdings in shares of Amdocs by 7.9% during the 2nd quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock worth $253,109,000 after purchasing an additional 234,096 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Amdocs by 36.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company’s stock worth $277,818,000 after purchasing an additional 851,022 shares during the period. Finally, Brandes Investment Partners LP raised its position in shares of Amdocs by 31.1% during the second quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock valued at $178,335,000 after buying an additional 536,359 shares during the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Trading Down 0.1 %

DOX stock opened at $87.18 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. The firm has a market cap of $10.25 billion, a P/E ratio of 20.56, a P/E/G ratio of 1.45 and a beta of 0.72. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $94.04. The business’s 50 day moving average is $88.05 and its 200-day moving average is $84.55.

Amdocs Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.479 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.20%. Amdocs’s payout ratio is presently 45.05%.

Analyst Ratings Changes

A number of research firms recently weighed in on DOX. Barclays decreased their target price on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research 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. Oppenheimer upped their target price on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus started coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.20.

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.