Freedom Investment Management Inc. Has $790,000 Position in Amdocs Limited (NASDAQ:DOX)

Freedom Investment Management Inc. lowered its position in Amdocs Limited (NASDAQ:DOX) by 9.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,026 shares of the technology company’s stock after selling 907 shares during the period. Freedom Investment Management Inc.’s holdings in Amdocs were worth $790,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in Amdocs during the third quarter valued at approximately $28,000. Bank of Montreal Can grew its holdings in Amdocs by 7.8% during the third quarter. Bank of Montreal Can now owns 205,881 shares of the technology company’s stock valued at $18,083,000 after purchasing an additional 14,858 shares during the last quarter. Private Trust Co. NA grew its holdings in Amdocs by 62.9% during the third 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 during the last quarter. Mirabella Financial Services LLP grew its holdings in Amdocs by 204.2% during the third quarter. Mirabella Financial Services LLP now owns 14,302 shares of the technology company’s stock valued at $1,250,000 after purchasing an additional 9,600 shares during the last quarter. Finally, Pitcairn Co. grew its holdings in Amdocs by 19.9% during the third quarter. Pitcairn Co. now owns 3,245 shares of the technology company’s stock valued at $284,000 after purchasing an additional 538 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Price Performance

Amdocs stock opened at $87.18 on Friday. The firm has a market capitalization of $10.25 billion, a P/E ratio of 20.56, a PEG ratio of 1.46 and a beta of 0.74. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $94.04. The business has a 50-day moving average of $88.07 and a 200-day moving average of $84.05. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Tuesday, December 31st. Amdocs’s dividend payout ratio (DPR) is presently 45.28%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on DOX shares. Barclays reduced their price objective on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Stifel Nicolaus began coverage on Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 target price for the company. Finally, Oppenheimer lifted their price objective on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.83.

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.