Gries Financial LLC Sells 724 Shares of Amdocs Limited (NASDAQ:DOX)

Gries Financial LLC decreased its position in Amdocs Limited (NASDAQ:DOX) by 3.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 19,471 shares of the technology company’s stock after selling 724 shares during the quarter. Gries Financial LLC’s holdings in Amdocs were worth $1,658,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Private Trust Co. NA increased its position in Amdocs by 62.9% during the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock worth $27,000 after buying an additional 117 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Amdocs during the 3rd quarter worth about $28,000. Catalyst Capital Advisors LLC acquired a new position in shares of Amdocs during the 3rd quarter worth about $55,000. GAMMA Investing LLC boosted its holdings in Amdocs by 115.1% in the 3rd quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after purchasing an additional 428 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in Amdocs in the 3rd quarter valued at $77,000. Institutional investors own 92.02% of the company’s stock.

Amdocs Price Performance

NASDAQ DOX opened at $86.31 on Thursday. The business has a 50 day simple moving average of $85.82 and a 200 day simple moving average of $86.25. 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 1.20 and a current ratio of 1.20. The stock has a market cap of $9.74 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 1.42 and a beta of 0.71.

Amdocs Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.479 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Tuesday, December 31st. Amdocs’s dividend payout ratio is 45.28%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. 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. StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 14th. Oppenheimer raised their price objective on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Stifel Nicolaus assumed coverage on Amdocs in a research report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently 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.