Amdocs Limited (NASDAQ:DOX) Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. decreased its stake in shares of Amdocs Limited (NASDAQ:DOX) by 14.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 229,375 shares of the technology company’s stock after selling 39,408 shares during the period. Amdocs accounts for 1.5% of Valley Wealth Managers Inc.’s portfolio, making the stock its 26th largest position. Valley Wealth Managers Inc. owned about 0.20% of Amdocs worth $20,066,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of DOX. State Board of Administration of Florida Retirement System increased its position in shares of Amdocs by 7.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 166,927 shares of the technology company’s stock worth $16,030,000 after acquiring an additional 12,178 shares in the last quarter. Boston Trust Walden Corp boosted its stake in Amdocs by 17.0% during the 2nd quarter. Boston Trust Walden Corp now owns 618,387 shares of the technology company’s stock valued at $48,803,000 after acquiring an additional 89,726 shares during the last quarter. SG Americas Securities LLC boosted its stake in Amdocs by 402.4% during the 2nd quarter. SG Americas Securities LLC now owns 154,968 shares of the technology company’s stock valued at $12,230,000 after acquiring an additional 124,122 shares during the last quarter. Sargent Investment Group LLC bought a new position in Amdocs during the 2nd quarter valued at $289,000. Finally, Acadian Asset Management LLC boosted its stake in Amdocs by 22.7% during the 1st quarter. Acadian Asset Management LLC now owns 1,395,894 shares of the technology company’s stock valued at $126,119,000 after acquiring an additional 258,343 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on DOX shares. Oppenheimer increased their price objective on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays reduced their price objective on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday. 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 objective on the stock. Finally, StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.83.

Amdocs Price Performance

Shares of NASDAQ:DOX traded down $0.52 during trading hours on Friday, hitting $85.19. 29,196 shares of the company’s stock traded hands, compared to its average volume of 679,016. 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 1.24. The company’s fifty day simple moving average is $88.18 and its two-hundred day simple moving average is $83.94. The company has a market cap of $10.01 billion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74.

Amdocs Announces Dividend

The company also recently announced 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. This represents a $1.92 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Tuesday, December 31st. Amdocs’s payout ratio is 45.28%.

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.