Bridgewater Associates LP Decreases Holdings in Amdocs Limited (NASDAQ:DOX)

Bridgewater Associates LP reduced its stake in Amdocs Limited (NASDAQ:DOX) by 9.5% during the third quarter, according to its most recent filing with the SEC. The fund owned 248,744 shares of the technology company’s stock after selling 26,096 shares during the quarter. Bridgewater Associates LP’s holdings in Amdocs were worth $21,760,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in DOX. Pzena Investment Management LLC raised its stake in shares of Amdocs by 33.2% in the second quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock valued at $447,287,000 after buying an additional 1,412,826 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Amdocs by 36.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company’s stock valued at $277,818,000 after acquiring an additional 851,022 shares during the period. Vanguard Group Inc. boosted 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 worth $183,771,000 after purchasing an additional 576,168 shares during the period. Brandes Investment Partners LP increased its stake 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 worth $178,335,000 after purchasing an additional 536,359 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Amdocs by 36.2% in the second quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company’s stock worth $132,253,000 after acquiring an additional 444,966 shares during the period. Institutional investors own 92.02% of the company’s stock.

Amdocs Stock Down 0.2 %

Shares of NASDAQ:DOX opened at $87.18 on Thursday. The stock has a market capitalization of $10.25 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 1.46 and a beta of 0.74. The stock’s 50-day moving average price is $88.08 and its 200-day moving average price is $84.03. 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.

Amdocs Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.479 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 annualized dividend and a yield of 2.20%. Amdocs’s payout ratio is 45.28%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Stifel Nicolaus started coverage on Amdocs in a research note on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price objective on the stock. StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Barclays cut their price objective on shares of 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 shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Amdocs has a consensus rating of “Moderate Buy” and a consensus price target of $101.83.

Amdocs 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.