Bridgewater Associates LP Has $21.76 Million Position in Amdocs Limited (NASDAQ:DOX)

Bridgewater Associates LP trimmed its holdings in Amdocs Limited (NASDAQ:DOX) by 9.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 248,744 shares of the technology company’s stock after selling 26,096 shares during the quarter. Bridgewater Associates LP owned about 0.21% of Amdocs worth $21,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in DOX. Private Trust Co. NA increased its stake in Amdocs by 62.9% in 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 in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Amdocs in the 3rd quarter valued at about $28,000. Catalyst Capital Advisors LLC acquired a new position in Amdocs during the 3rd quarter worth approximately $55,000. GAMMA Investing LLC boosted its holdings in Amdocs by 115.1% in 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 bought a new position in Amdocs in the second quarter worth approximately $76,000. Institutional investors own 92.02% of the company’s stock.

Amdocs Price Performance

DOX opened at $87.18 on Thursday. The firm’s fifty day moving average price is $88.08 and its two-hundred day moving average price is $84.03. The company has a market capitalization of $10.25 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 1.46 and a beta of 0.74. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.24. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $94.04.

Amdocs Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.479 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Tuesday, December 31st. Amdocs’s payout ratio is 45.28%.

Wall Street Analysts Forecast Growth

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

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.