New York State Common Retirement Fund Increases Position in Amdocs Limited $DOX

New York State Common Retirement Fund increased its position in Amdocs Limited (NASDAQ:DOX) by 20.3% in the third quarter, HoldingsChannel.com reports. The fund owned 554,401 shares of the technology company’s stock after buying an additional 93,527 shares during the period. New York State Common Retirement Fund’s holdings in Amdocs were worth $45,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its holdings in shares of Amdocs by 18.0% in the second quarter. Nordea Investment Management AB now owns 1,879,023 shares of the technology company’s stock valued at $170,803,000 after purchasing an additional 287,235 shares during the period. Qube Research & Technologies Ltd boosted its position in Amdocs by 130.0% in the second quarter. Qube Research & Technologies Ltd now owns 380,817 shares of the technology company’s stock valued at $34,746,000 after buying an additional 215,254 shares during the last quarter. LSV Asset Management increased its holdings in Amdocs by 6.6% in the 2nd quarter. LSV Asset Management now owns 3,391,510 shares of the technology company’s stock worth $309,441,000 after buying an additional 211,009 shares during the period. Acadian Asset Management LLC raised its position in Amdocs by 36.2% during the 2nd quarter. Acadian Asset Management LLC now owns 684,218 shares of the technology company’s stock worth $62,416,000 after buying an additional 181,719 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in Amdocs by 207.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 256,081 shares of the technology company’s stock valued at $23,365,000 after acquiring an additional 172,759 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DOX. Weiss Ratings reiterated a “hold (c)” rating on shares of Amdocs in a research note on Tuesday. Bank of America lowered their price target on shares of Amdocs from $100.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Wall Street Zen lowered Amdocs from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Wolfe Research reissued a “peer perform” rating on shares of Amdocs in a report on Thursday, November 13th. Finally, Stifel Nicolaus dropped their target price on Amdocs from $100.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.00.

Amdocs Trading Up 1.1%

DOX stock opened at $81.94 on Friday. Amdocs Limited has a 52-week low of $74.32 and a 52-week high of $95.41. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.23. The firm has a market cap of $8.85 billion, a P/E ratio of 16.23, a PEG ratio of 1.37 and a beta of 0.40. The company’s 50-day simple moving average is $80.31 and its 200-day simple moving average is $82.88.

Amdocs Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were issued a $0.527 dividend. This represents a $2.11 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Wednesday, December 31st. Amdocs’s dividend payout ratio (DPR) is presently 41.78%.

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.