Wellington Management Group LLP Grows Stock Holdings in Amdocs Limited (NASDAQ:DOX)

Wellington Management Group LLP lifted its stake in Amdocs Limited (NASDAQ:DOX) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,136,932 shares of the technology company’s stock after purchasing an additional 16,580 shares during the quarter. Wellington Management Group LLP owned about 1.82% of Amdocs worth $186,939,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Private Trust Co. NA increased its stake in Amdocs by 62.9% during the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after purchasing an additional 117 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Amdocs during the third quarter valued at approximately $28,000. Catalyst Capital Advisors LLC bought a new stake in shares of Amdocs during the third quarter valued at approximately $55,000. GAMMA Investing LLC raised its holdings in Amdocs by 115.1% in the 3rd quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock worth $70,000 after acquiring an additional 428 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Amdocs in the 3rd quarter valued at approximately $77,000. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Amdocs Stock Down 0.5 %

Shares of DOX stock opened at $86.64 on Monday. The company has a 50 day simple moving average of $88.12 and a two-hundred day simple moving average of $84.28. The stock has a market cap of $10.18 billion, a P/E ratio of 20.43, a P/E/G ratio of 1.46 and a beta of 0.72. Amdocs Limited has a 12 month low of $74.41 and a 12 month high of $94.04. 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 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 issued a $0.479 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a yield of 2.21%. Amdocs’s dividend payout ratio is currently 45.05%.

Analyst Ratings Changes

DOX has been the subject of a number of research analyst reports. StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Oppenheimer lifted their price objective on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Barclays lowered their target price on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Finally, Stifel Nicolaus started coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price target for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Amdocs has an average rating of “Moderate Buy” and an average price target of $101.20.

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.