The Manufacturers Life Insurance Company Sells 300 Shares of Amdocs Limited (NASDAQ:DOX)

The Manufacturers Life Insurance Company reduced its position in shares of Amdocs Limited (NASDAQ:DOX) by 2.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,538 shares of the technology company’s stock after selling 300 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Amdocs were worth $1,272,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Pzena Investment Management LLC raised its stake in Amdocs by 33.2% during the 2nd quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock valued at $447,287,000 after buying an additional 1,412,826 shares during the last quarter. 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. Pacer Advisors Inc. boosted its position in Amdocs by 36.2% in the second quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company’s stock worth $132,253,000 after purchasing an additional 444,966 shares during the last quarter. Finally, LSV Asset Management grew its stake in shares of Amdocs by 7.9% during the 2nd quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock valued at $253,109,000 after purchasing an additional 234,096 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DOX has been the topic of a number of research reports. StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Stifel Nicolaus assumed coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price target on the stock. Oppenheimer upped their price objective on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Barclays lowered their target price on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research report 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.20.

Amdocs Stock Up 1.2 %

Shares of DOX opened at $87.13 on Thursday. The firm has a fifty day moving average price of $88.06 and a 200-day moving average price of $84.39. The company has a current ratio of 1.20, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $10.24 billion, a P/E ratio of 20.55, a P/E/G ratio of 1.44 and a beta of 0.72. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $94.04.

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 $0.479 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Tuesday, December 31st. Amdocs’s dividend payout ratio (DPR) is presently 45.05%.

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.