Tidal Investments LLC Acquires 2,885 Shares of Amdocs Limited (NASDAQ:DOX)

Tidal Investments LLC grew its holdings in Amdocs Limited (NASDAQ:DOX) by 2.6% in the third quarter, HoldingsChannel reports. The fund owned 113,671 shares of the technology company’s stock after buying an additional 2,885 shares during the period. Tidal Investments LLC’s holdings in Amdocs were worth $9,944,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of DOX. Private Trust Co. NA lifted its position in Amdocs by 62.9% during the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock worth $27,000 after purchasing an additional 117 shares during the period. Brooklyn Investment Group acquired a new position in Amdocs during the third quarter worth about $28,000. Catalyst Capital Advisors LLC acquired a new position in Amdocs during the third quarter worth about $55,000. GAMMA Investing LLC raised its stake in Amdocs by 115.1% during the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock worth $70,000 after acquiring an additional 428 shares in the last quarter. Finally, American National Bank acquired a new position in Amdocs during the second quarter worth about $76,000. Institutional investors own 92.02% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on DOX shares. Barclays lowered their target price on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Oppenheimer boosted their target price on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Stifel Nicolaus started coverage on Amdocs in a research note on Wednesday, October 2nd. They set a “buy” rating and a $100.00 target price for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $101.20.

Amdocs Stock Performance

Amdocs stock opened at $88.44 on Friday. The business has a 50 day moving average of $88.06 and a 200-day moving average of $84.41. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $94.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.24. The company has a market capitalization of $10.40 billion, a P/E ratio of 20.86, a P/E/G ratio of 1.45 and a beta of 0.72.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.479 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs’s dividend payout ratio is currently 45.28%.

Amdocs Company 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.