Nordea Investment Management AB Cuts Stake in Amdocs Limited $DOX

Nordea Investment Management AB lessened its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,801,486 shares of the technology company’s stock after selling 77,537 shares during the period. Nordea Investment Management AB owned approximately 1.60% of Amdocs worth $146,803,000 at the end of the most recent quarter.

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

Amdocs Stock Performance

NASDAQ DOX opened at $82.81 on Wednesday. The firm has a market capitalization of $8.94 billion, a P/E ratio of 16.40, a PEG ratio of 1.42 and a beta of 0.40. The stock has a 50-day simple moving average of $79.38 and a two-hundred day simple moving average of $83.52. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.17. Amdocs Limited has a fifty-two week low of $74.32 and a fifty-two week high of $95.41.

Amdocs Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DOX shares. Stifel Nicolaus lowered their price objective on shares of Amdocs from $100.00 to $97.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amdocs in a research report on Thursday, October 30th. Wall Street Zen lowered Amdocs from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Wolfe Research restated a “peer perform” rating on shares of Amdocs in a research note on Thursday, November 13th. Finally, Bank of America dropped their target price on Amdocs from $100.00 to $97.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.00.

Amdocs Company 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.