Hilton Capital Management LLC Cuts Holdings in Amdocs Limited (NASDAQ:DOX)

Hilton Capital Management LLC decreased its position in Amdocs Limited (NASDAQ:DOX) by 5.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,833 shares of the technology company’s stock after selling 898 shares during the quarter. Hilton Capital Management LLC’s holdings in Amdocs were worth $1,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of DOX. Pzena Investment Management LLC boosted its stake in Amdocs by 33.2% during the second quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock worth $447,287,000 after buying an additional 1,412,826 shares during the period. LSV Asset Management boosted its stake in shares of Amdocs by 7.9% during the 2nd quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock worth $253,109,000 after purchasing an additional 234,096 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Amdocs by 36.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company’s stock valued at $277,818,000 after purchasing an additional 851,022 shares during the last quarter. Brandes Investment Partners LP raised its position in Amdocs by 31.1% in the 2nd quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock worth $178,335,000 after purchasing an additional 536,359 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Amdocs by 39.5% in the first quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock worth $183,771,000 after purchasing an additional 576,168 shares during the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DOX shares. Oppenheimer lifted 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. Barclays lowered their price objective on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Stifel Nicolaus initiated coverage on Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.83.

Amdocs Price Performance

NASDAQ DOX opened at $83.73 on Thursday. The company has a market cap of $9.84 billion, a PE ratio of 19.75, a P/E/G ratio of 1.39 and a beta of 0.74. The firm’s 50 day moving average price is $88.07 and its 200-day moving average price is $83.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.20. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $94.04.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.479 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 annualized dividend and a yield of 2.29%. Amdocs’s dividend payout ratio (DPR) is presently 45.05%.

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.