Paloma Partners Management Co Acquires New Position in Amdocs Limited (NASDAQ:DOX)

Paloma Partners Management Co acquired a new stake in shares of Amdocs Limited (NASDAQ:DOX) during the third quarter, Holdings Channel.com reports. The fund acquired 4,607 shares of the technology company’s stock, valued at approximately $403,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Trust Co. NA lifted its stake in Amdocs by 62.9% in the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after acquiring an additional 117 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Amdocs in the third quarter valued at approximately $28,000. Catalyst Capital Advisors LLC acquired a new stake in Amdocs in the third quarter valued at approximately $55,000. GAMMA Investing LLC lifted its stake in Amdocs by 115.1% in the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after acquiring an additional 428 shares during the last quarter. Finally, American National Bank acquired a new stake in Amdocs in the second quarter valued at approximately $76,000. 92.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DOX has been the subject of a number of analyst reports. Barclays reduced their target price on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Stifel Nicolaus began coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price objective for the company. Oppenheimer boosted their price objective 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. Finally, StockNews.com cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.20.

Amdocs Price Performance

NASDAQ:DOX opened at $87.32 on Thursday. The stock has a market cap of $10.26 billion, a P/E ratio of 20.59, a PEG ratio of 1.46 and a beta of 0.72. Amdocs Limited has a one year low of $74.41 and a one year high of $94.04. The company has a fifty day moving average price of $88.15 and a 200 day moving average price of $84.20. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.24.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs’s payout ratio is currently 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.