Acadian Asset Management LLC cut its stake in Amdocs Limited (NASDAQ:DOX) by 1.5% during the second quarter, Holdings Channel reports. The firm owned 1,368,418 shares of the technology company’s stock after selling 20,781 shares during the period. Acadian Asset Management LLC’s holdings in Amdocs Limited were worth $88,207,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parametrica Management Ltd acquired a new position in Amdocs Limited during the second quarter valued at approximately $332,000. Russell Investments Group Ltd. boosted its stake in shares of Amdocs Limited by 51.8% in the second quarter. Russell Investments Group Ltd. now owns 488,752 shares of the technology company’s stock valued at $31,507,000 after buying an additional 166,850 shares during the last quarter. Huntington National Bank boosted its stake in shares of Amdocs Limited by 2.6% in the second quarter. Huntington National Bank now owns 4,565 shares of the technology company’s stock valued at $295,000 after buying an additional 117 shares during the last quarter. US Bancorp DE boosted its stake in shares of Amdocs Limited by 4.9% in the second quarter. US Bancorp DE now owns 31,907 shares of the technology company’s stock valued at $2,057,000 after buying an additional 1,480 shares during the last quarter. Finally, BTIM Corp. boosted its stake in shares of Amdocs Limited by 12.2% in the second quarter. BTIM Corp. now owns 182,105 shares of the technology company’s stock valued at $11,739,000 after buying an additional 19,781 shares during the last quarter. Institutional investors and hedge funds own 90.72% of the company’s stock.
Shares of Amdocs Limited (NASDAQ DOX) opened at 67.35 on Thursday. Amdocs Limited has a 52 week low of $54.91 and a 52 week high of $67.48. The firm has a market cap of $9.86 billion, a PE ratio of 24.41 and a beta of 0.54. The firm’s 50-day moving average price is $64.98 and its 200 day moving average price is $62.16.
Amdocs Limited (NASDAQ:DOX) last announced its quarterly earnings results on Tuesday, May 9th. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.01. Amdocs Limited had a net margin of 10.84% and a return on equity of 14.46%. The company had revenue of $966 million during the quarter, compared to analyst estimates of $960.58 million. During the same quarter in the previous year, the business earned $0.92 EPS. The firm’s revenue was up 4.3% on a year-over-year basis. Equities analysts anticipate that Amdocs Limited will post $3.79 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Wednesday, June 28th. Amdocs Limited’s dividend payout ratio (DPR) is 31.88%.
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Several analysts have issued reports on DOX shares. Zacks Investment Research upgraded Amdocs Limited from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research note on Monday, May 22nd. Stifel Nicolaus restated a “buy” rating and set a $68.00 price objective on shares of Amdocs Limited in a research note on Wednesday, June 28th. Jefferies Group LLC restated a “hold” rating and set a $59.00 price objective on shares of Amdocs Limited in a research note on Friday, June 16th. Robert W. Baird upped their price objective on Amdocs Limited from $62.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, May 10th. Finally, J P Morgan Chase & Co restated a “neutral” rating and set a $68.00 price objective on shares of Amdocs Limited in a research note on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $66.50.
Amdocs Limited Company Profile
Amdocs Limited is a provider of software and services for communications, entertainment and media industry service providers. The Company develops, implements and manages software and services associated with business support systems (BSS), operational support systems (OSS) and network operations to enable service providers to introduce new products and services, process orders, monetize data, support new business models and enhance their understanding of their customers.
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