Victory Capital Management Inc. increased its position in Amdocs Limited (NASDAQ:DOX – Get Rating) by 28.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,040 shares of the technology company’s stock after purchasing an additional 8,755 shares during the period. Victory Capital Management Inc.’s holdings in Amdocs were worth $3,589,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Trifecta Capital Advisors LLC bought a new position in Amdocs in the 4th quarter worth about $25,000. U.S. Capital Wealth Advisors LLC bought a new position in Amdocs in the 4th quarter worth about $47,000. Belpointe Asset Management LLC bought a new position in Amdocs in the 4th quarter worth about $79,000. Cullen Frost Bankers Inc. boosted its stake in Amdocs by 2,014.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 909 shares of the technology company’s stock worth $72,000 after purchasing an additional 866 shares in the last quarter. Finally, Zions Bancorporation N.A. bought a new position in Amdocs in the 1st quarter worth about $83,000. Institutional investors own 88.11% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on DOX. 888 reiterated a “reiterates” rating on shares of Amdocs in a research note on Thursday, May 11th. Robert W. Baird upped their target price on shares of Amdocs from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, February 2nd. Oppenheimer upped their target price on shares of Amdocs from $94.00 to $99.00 and gave the company an “outperform” rating in a research note on Wednesday, February 1st. StockNews.com started coverage on shares of Amdocs in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Finally, Barclays upgraded shares of Amdocs from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $100.00 to $115.00 in a research note on Tuesday, May 16th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Amdocs presently has an average rating of “Moderate Buy” and a consensus price target of $102.50.
Amdocs Price Performance
Amdocs Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, June 30th will be given a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Thursday, June 29th. Amdocs’s payout ratio is currently 39.64%.
Amdocs Profile
Amdocs Ltd. is a holding company, which engages in the provision of software products and services for the communications, entertainment, and media industry service providers. The company was founded in 1988 and is headquartered in Saint Louis, MO.
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