First Business Financial Services Inc. Sells 768 Shares of Amdocs Limited (NASDAQ:DOX)

First Business Financial Services Inc. cut its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 14.7% during the 3rd quarter, Holdings Channel reports. The firm owned 4,450 shares of the technology company’s stock after selling 768 shares during the period. First Business Financial Services Inc.’s holdings in Amdocs were worth $389,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pzena Investment Management LLC increased its position in Amdocs by 33.2% in the 2nd quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock valued at $447,287,000 after acquiring an additional 1,412,826 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of 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 in the last quarter. Vanguard Group Inc. raised its holdings in shares of 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 purchasing an additional 576,168 shares during the period. Brandes Investment Partners LP raised its stake in Amdocs by 31.1% during the 2nd quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock worth $178,335,000 after buying an additional 536,359 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of Amdocs by 36.2% in the 2nd quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company’s stock worth $132,253,000 after purchasing an additional 444,966 shares in the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Stock Down 2.3 %

Shares of NASDAQ:DOX opened at $85.71 on Friday. The firm has a fifty day moving average of $88.18 and a 200 day moving average of $83.94. 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 firm has a market capitalization of $10.07 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74.

Amdocs Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.479 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs’s payout ratio is presently 45.28%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Stifel Nicolaus assumed coverage on Amdocs in a report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price objective for the company. StockNews.com cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Thursday. Oppenheimer lifted 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. Finally, Barclays dropped their price objective on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday. One investment 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 a consensus rating of “Moderate Buy” and a consensus target price of $101.83.

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.