BNP Paribas Financial Markets Reduces Stock Position in Amdocs Limited (NASDAQ:DOX)

BNP Paribas Financial Markets trimmed its stake in shares of Amdocs Limited (NASDAQ:DOX) by 18.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 120,896 shares of the technology company’s stock after selling 27,723 shares during the period. BNP Paribas Financial Markets owned approximately 0.10% of Amdocs worth $10,576,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pzena Investment Management LLC grew its position in Amdocs by 12.3% in the 3rd quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company’s stock worth $556,700,000 after purchasing an additional 696,136 shares during the period. LSV Asset Management grew its holdings in shares of Amdocs by 7.9% in the second quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock worth $253,109,000 after acquiring an additional 234,096 shares during the period. Allspring Global Investments Holdings LLC increased its position in Amdocs by 36.6% during the third 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 during the last quarter. Brandes Investment Partners LP lifted its holdings in Amdocs by 31.1% in the second quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock valued at $178,335,000 after acquiring an additional 536,359 shares during the period. Finally, American Century Companies Inc. boosted its position in Amdocs by 7.9% in the second quarter. American Century Companies Inc. now owns 1,991,086 shares of the technology company’s stock worth $157,137,000 after purchasing an additional 145,757 shares during the last quarter. Institutional investors own 92.02% of the company’s stock.

Amdocs Price Performance

Shares of Amdocs stock opened at $86.72 on Monday. The company has a market capitalization of $10.19 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 1.45 and a beta of 0.74. The company has a quick ratio of 1.24, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. The stock’s 50-day simple moving average is $88.08 and its 200-day simple moving average is $84.10. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04.

Amdocs Dividend Announcement

The firm 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. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 annualized dividend and a yield of 2.21%. Amdocs’s payout ratio is 45.28%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DOX. StockNews.com cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Stifel Nicolaus began coverage on shares of Amdocs in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price target on the stock. Barclays cut their price objective on shares of 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 Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Amdocs presently has a consensus rating of “Moderate Buy” and an average 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.