Corbyn Investment Management Inc. MD Increases Stock Position in Amdocs Limited $DOX

Corbyn Investment Management Inc. MD grew its holdings in Amdocs Limited (NASDAQ:DOX) by 31.3% during the 1st quarter, Holdings Channel reports. The firm owned 58,279 shares of the technology company’s stock after buying an additional 13,885 shares during the period. Amdocs comprises approximately 1.3% of Corbyn Investment Management Inc. MD’s investment portfolio, making the stock its 27th biggest holding. Corbyn Investment Management Inc. MD’s holdings in Amdocs were worth $3,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. WealthCollab LLC raised its position in shares of Amdocs by 94.5% during the 3rd quarter. WealthCollab LLC now owns 356 shares of the technology company’s stock worth $29,000 after purchasing an additional 173 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in Amdocs during the 4th quarter valued at $37,000. Los Angeles Capital Management LLC purchased a new position in Amdocs during the fourth quarter worth $39,000. Advisory Services Network LLC purchased a new position in Amdocs during the third quarter worth $42,000. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Amdocs by 190.2% in the third quarter. CIBC Private Wealth Group LLC now owns 595 shares of the technology company’s stock worth $49,000 after acquiring an additional 390 shares during the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Cfra lowered Amdocs to a “sell” rating in a research note on Thursday, May 14th. Wall Street Zen downgraded shares of Amdocs from a “buy” rating to a “hold” rating in a research note on Sunday. Weiss Ratings restated a “hold (c-)” rating on shares of Amdocs in a report on Friday, May 8th. Stifel Nicolaus decreased their price target on shares of Amdocs from $88.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Finally, KeyCorp began coverage on shares of Amdocs in a report on Monday, June 29th. They set a “sector weight” rating for the company. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $86.67.

Amdocs Price Performance

DOX stock opened at $51.75 on Monday. Amdocs Limited has a 52-week low of $49.79 and a 52-week high of $93.44. The stock’s fifty day simple moving average is $59.12 and its 200-day simple moving average is $68.11. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 10.35, a price-to-earnings-growth ratio of 0.90 and a beta of 0.41.

Amdocs (NASDAQ:DOX) last released its earnings results on Thursday, May 14th. The technology company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.77 by $0.01. Amdocs had a return on equity of 19.77% and a net margin of 11.81%.The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm posted $1.78 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities research analysts expect that Amdocs Limited will post 6.56 EPS for the current year.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a $0.569 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.28 annualized dividend and a yield of 4.4%. Amdocs’s payout ratio is 45.60%.

Amdocs Company Profile

Amdocs (NASDAQ: DOX) is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs’ product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra’anana, Israel.