Amdocs Limited $DOX Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB decreased its position in Amdocs Limited (NASDAQ:DOX) by 4.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,801,486 shares of the technology company’s stock after selling 77,537 shares during the period. Nordea Investment Management AB’s holdings in Amdocs were worth $146,803,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Dakota Wealth Management purchased a new position in shares of Amdocs in the 2nd quarter valued at about $458,000. JPMorgan Chase & Co. boosted its position in Amdocs by 13.6% during the second quarter. JPMorgan Chase & Co. now owns 266,124 shares of the technology company’s stock worth $24,281,000 after purchasing an additional 31,827 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Amdocs by 64.5% in the second quarter. Farther Finance Advisors LLC now owns 1,625 shares of the technology company’s stock valued at $148,000 after purchasing an additional 637 shares during the period. Foster & Motley Inc. increased its position in shares of Amdocs by 21.0% in the second quarter. Foster & Motley Inc. now owns 45,764 shares of the technology company’s stock valued at $4,176,000 after buying an additional 7,934 shares in the last quarter. Finally, Value Holdings Management CO. LLC raised its stake in shares of Amdocs by 56.5% during the 3rd quarter. Value Holdings Management CO. LLC now owns 77,575 shares of the technology company’s stock worth $6,365,000 after buying an additional 28,000 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DOX has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Amdocs from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Wolfe Research reiterated a “peer perform” rating on shares of Amdocs in a research report on Thursday, November 13th. Stifel Nicolaus reduced their price target on shares of Amdocs from $100.00 to $97.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amdocs in a research note on Thursday, October 30th. Finally, Bank of America cut their price objective on Amdocs from $100.00 to $97.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.00.

Amdocs Stock Performance

DOX opened at $82.81 on Wednesday. Amdocs Limited has a twelve month low of $74.32 and a twelve month high of $95.41. The firm has a market capitalization of $8.94 billion, a PE ratio of 16.40, a PEG ratio of 1.42 and a beta of 0.40. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $79.38 and its 200 day moving average price is $83.52.

Amdocs Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Wednesday, December 31st. Amdocs’s payout ratio is currently 41.58%.

Amdocs Profile

Amdocs (NASDAQ: DOX) is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs’ product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra’anana, Israel.