Freedom Investment Management Inc. Sells 907 Shares of Amdocs Limited (NASDAQ:DOX)

Freedom Investment Management Inc. lessened its stake in shares of Amdocs Limited (NASDAQ:DOX) by 9.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,026 shares of the technology company’s stock after selling 907 shares during the period. Freedom Investment Management Inc.’s holdings in Amdocs were worth $790,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Pzena Investment Management LLC increased its position in Amdocs by 12.3% during the third quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company’s stock worth $556,700,000 after buying an additional 696,136 shares during the last quarter. LSV Asset Management lifted its position in shares of Amdocs by 7.9% in the second quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock valued at $253,109,000 after buying an additional 234,096 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of 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 valued at $277,818,000 after buying an additional 851,022 shares during the last quarter. Brandes Investment Partners LP lifted its position in shares of Amdocs by 31.1% in 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. Finally, Vanguard Group Inc. lifted its position in shares of Amdocs by 39.5% in 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 last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Wall Street Analysts Forecast Growth

DOX has been the subject of a number of recent analyst reports. StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Stifel Nicolaus initiated coverage on Amdocs in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price objective for the company. Barclays cut their price objective on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Finally, Oppenheimer increased their target price on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.83.

Amdocs Stock Down 0.2 %

Shares of DOX opened at $87.18 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.24 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 firm’s 50 day moving average is $88.07 and its 200-day moving average is $84.05. The stock has a market capitalization of $10.25 billion, a PE ratio of 20.56, a P/E/G ratio of 1.46 and a beta of 0.74.

Amdocs Announces Dividend

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 $0.479 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.92 annualized dividend and a yield of 2.20%. Amdocs’s dividend payout ratio 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.