Massachusetts Financial Services Co. MA Sells 1,611,245 Shares of Amdocs Limited (NASDAQ:DOX)

Massachusetts Financial Services Co. MA lessened its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 68.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 730,512 shares of the technology company's stock after selling 1,611,245 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.62% of Amdocs worth $64,205,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC bought a new position in shares of Amdocs in the third quarter valued at approximately $96,934,000. Invesco Ltd. raised its position in Amdocs by 31.0% in the 3rd quarter. Invesco Ltd. now owns 2,629,346 shares of the technology company's stock valued at $222,153,000 after purchasing an additional 621,962 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in Amdocs by 333.7% in the third quarter. Qube Research & Technologies Ltd now owns 449,788 shares of the technology company's stock worth $38,003,000 after purchasing an additional 346,071 shares in the last quarter. Seizert Capital Partners LLC bought a new stake in shares of Amdocs during the fourth quarter worth $28,059,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Amdocs by 39.2% in the third quarter. The Manufacturers Life Insurance Company now owns 796,767 shares of the technology company's stock valued at $67,319,000 after buying an additional 224,518 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company's stock.

Amdocs Trading Down 0.4 %

Shares of Amdocs stock traded down $0.36 during trading on Friday, reaching $81.75. 616,234 shares of the company were exchanged, compared to its average volume of 695,496. The business has a 50-day moving average price of $87.48 and a 200-day moving average price of $87.58. The firm has a market capitalization of $9.61 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 1.33 and a beta of 0.70. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.21. Amdocs Limited has a twelve month low of $78.38 and a twelve month high of $99.75.

Amdocs Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be paid a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a yield of 2.34%. The ex-dividend date is Friday, June 28th. Amdocs's payout ratio is 43.15%.

Analysts Set New Price Targets

Several brokerages recently issued reports on DOX. Citigroup reduced their price target on shares of Amdocs from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, May 9th. Robert W. Baird lowered their price target on shares of Amdocs from $97.00 to $90.00 and set a "neutral" rating for the company in a report on Thursday, May 9th. StockNews.com downgraded Amdocs from a "strong-buy" rating to a "buy" rating in a report on Friday, March 15th. Finally, Barclays lifted their target price on Amdocs from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $104.83.

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.