Burney Co. Sells 2,860 Shares of Amdocs Limited (NASDAQ:DOX)

Burney Co. decreased its stake in Amdocs Limited (NASDAQ:DOX) by 16.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,203 shares of the technology company’s stock after selling 2,860 shares during the quarter. Burney Co.’s holdings in Amdocs were worth $1,209,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its position in shares of Amdocs by 1.7% in the 3rd quarter. Janus Henderson Group PLC now owns 6,625,875 shares of the technology company’s stock valued at $579,632,000 after acquiring an additional 111,357 shares during the period. Pzena Investment Management LLC increased its stake in Amdocs by 12.3% in the third quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company’s stock valued at $556,700,000 after purchasing an additional 696,136 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in 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 worth $277,818,000 after purchasing an additional 851,022 shares during the period. Brandes Investment Partners LP boosted its position in shares of Amdocs by 31.1% during 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, Wellington Management Group LLP grew its holdings in shares of Amdocs by 0.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,136,932 shares of the technology company’s stock valued at $186,939,000 after buying an additional 16,580 shares during the period. Institutional investors own 92.02% of the company’s stock.

Amdocs Stock Up 0.5 %

DOX stock opened at $84.68 on Friday. The business has a 50-day moving average of $86.18 and a 200-day moving average of $85.77. Amdocs Limited has a fifty-two week low of $74.41 and a fifty-two week high of $94.04. The stock has a market capitalization of $9.56 billion, a P/E ratio of 19.97, a P/E/G ratio of 1.37 and a beta of 0.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.20.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.479 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.92 annualized dividend and a dividend yield of 2.26%. Amdocs’s dividend payout ratio is currently 45.28%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on DOX shares. Stifel Nicolaus assumed 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 lowered Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Barclays decreased 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 raised their target price on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Amdocs currently has an average rating of “Moderate Buy” and a consensus price target of $101.20.

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.