Amalgamated Bank Sells 14,134 Shares of Amdocs Limited (NASDAQ:DOX)

Amalgamated Bank decreased its position in Amdocs Limited (NASDAQ:DOX) by 70.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,031 shares of the technology company’s stock after selling 14,134 shares during the period. Amalgamated Bank’s holdings in Amdocs were worth $528,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pzena Investment Management LLC lifted its stake in Amdocs by 33.2% in the second quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock worth $447,287,000 after acquiring an additional 1,412,826 shares during the period. LSV Asset Management lifted its stake in Amdocs by 7.9% in the second quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock worth $253,109,000 after acquiring an additional 234,096 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Amdocs by 36.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company’s stock worth $277,818,000 after acquiring an additional 851,022 shares during the period. Brandes Investment Partners LP lifted its stake in Amdocs by 31.1% in the second quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock worth $178,335,000 after acquiring an additional 536,359 shares during the period. Finally, Vanguard Group Inc. lifted its position in Amdocs by 39.5% during the first quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock valued at $183,771,000 after buying an additional 576,168 shares during the period. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Amdocs Trading Down 2.0 %

Amdocs stock opened at $83.98 on Friday. The business has a 50-day simple moving average of $88.16 and a two-hundred day simple moving average of $83.95. The company has a market cap of $9.87 billion, a P/E ratio of 19.81, a P/E/G ratio of 1.42 and a beta of 0.74. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $94.04. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21.

Amdocs Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.479 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.28%. Amdocs’s dividend payout ratio is currently 45.05%.

Wall Street Analyst Weigh In

DOX has been the subject of several recent research reports. StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Stifel Nicolaus initiated coverage on Amdocs in a research report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price objective for the company. Oppenheimer raised their price objective on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Barclays reduced their price target on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Amdocs presently has an average rating of “Moderate Buy” and an average price target of $101.83.

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.