Pzena Investment Management LLC increased its stake in Amdocs Limited (NASDAQ:DOX) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,778 shares of the technology company’s stock after buying an additional 127 shares during the period. Pzena Investment Management LLC’s holdings in Amdocs Limited were worth $372,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Sequoia Financial Advisors LLC raised its stake in shares of Amdocs Limited by 5.2% in the first quarter. Sequoia Financial Advisors LLC now owns 51,954 shares of the technology company’s stock valued at $3,169,000 after buying an additional 2,561 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Amdocs Limited by 107.2% in the first quarter. Canada Pension Plan Investment Board now owns 49,418 shares of the technology company’s stock valued at $3,014,000 after buying an additional 25,566 shares in the last quarter. Wetherby Asset Management Inc. raised its stake in shares of Amdocs Limited by 4.4% in the first quarter. Wetherby Asset Management Inc. now owns 3,812 shares of the technology company’s stock valued at $232,000 after buying an additional 162 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Amdocs Limited by 3.3% in the first quarter. Russell Investments Group Ltd. now owns 321,902 shares of the technology company’s stock valued at $19,635,000 after buying an additional 10,381 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Amdocs Limited by 4.2% in the first quarter. Janney Montgomery Scott LLC now owns 23,138 shares of the technology company’s stock valued at $1,411,000 after buying an additional 930 shares in the last quarter. Hedge funds and other institutional investors own 88.74% of the company’s stock.
Amdocs Limited (DOX) opened at 63.31 on Wednesday. Amdocs Limited has a 12 month low of $54.91 and a 12 month high of $67.98. The firm’s 50-day moving average is $65.11 and its 200 day moving average is $62.97. The stock has a market capitalization of $9.20 billion, a P/E ratio of 22.05 and a beta of 0.54.
Amdocs Limited (NASDAQ:DOX) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.06. Amdocs Limited had a return on equity of 14.75% and a net margin of 11.11%. The business had revenue of $967 million during the quarter, compared to analysts’ expectations of $967.04 million. During the same period in the previous year, the business posted $0.90 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Amdocs Limited will post $3.81 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, September 29th will be issued a $0.22 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.39%. Amdocs Limited’s dividend payout ratio is 30.66%.
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Several equities research analysts recently commented on the stock. BidaskClub upgraded shares of Amdocs Limited from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Barclays PLC reiterated a “hold” rating and set a $68.00 price target on shares of Amdocs Limited in a research note on Friday, August 4th. Stifel Nicolaus reiterated a “buy” rating and set a $72.00 price target (up from $68.00) on shares of Amdocs Limited in a research note on Thursday, August 3rd. Zacks Investment Research upgraded shares of Amdocs Limited from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Friday, August 4th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $59.00 price target on shares of Amdocs Limited in a research note on Friday, June 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $67.63.
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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