Signature Estate & Investment Advisors LLC Cuts Stock Position in Amdocs Limited $DOX

Signature Estate & Investment Advisors LLC lessened its stake in shares of Amdocs Limited (NASDAQ:DOX) by 24.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 89,392 shares of the technology company’s stock after selling 29,144 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Amdocs were worth $7,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Scotia Capital Inc. raised its stake in shares of Amdocs by 3.5% during the third quarter. Scotia Capital Inc. now owns 4,289 shares of the technology company’s stock worth $352,000 after purchasing an additional 145 shares during the last quarter. CENTRAL TRUST Co raised its stake in shares of Amdocs by 6.1% during the third quarter. CENTRAL TRUST Co now owns 2,741 shares of the technology company’s stock worth $225,000 after purchasing an additional 158 shares during the last quarter. WealthCollab LLC raised its stake in shares of Amdocs by 94.5% during the third 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. Rossby Financial LCC raised its stake in shares of Amdocs by 39.3% during the third quarter. Rossby Financial LCC now owns 620 shares of the technology company’s stock worth $50,000 after purchasing an additional 175 shares during the last quarter. Finally, Blair William & Co. IL raised its stake in shares of Amdocs by 5.5% during the third quarter. Blair William & Co. IL now owns 3,393 shares of the technology company’s stock worth $278,000 after purchasing an additional 177 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Amdocs Stock Down 0.4%

Amdocs stock opened at $62.36 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 0.98. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 0.96 and a beta of 0.40. Amdocs Limited has a fifty-two week low of $59.40 and a fifty-two week high of $95.41. The stock’s fifty day moving average is $64.73 and its two-hundred day moving average is $72.87.

Amdocs (NASDAQ:DOX) last posted its earnings results on Thursday, May 14th. The technology company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.01. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. Amdocs had a return on equity of 19.77% and a net margin of 11.81%.Amdocs’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.78 earnings per share. Analysts predict that Amdocs Limited will post 7.41 EPS for the current fiscal year.

Amdocs Announces Dividend

The company also recently announced 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 of this dividend is Tuesday, June 30th. This represents a $2.28 annualized dividend and a yield of 3.6%. Amdocs’s dividend payout ratio is 45.60%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on DOX shares. Wall Street Zen lowered Amdocs from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Barclays dropped their price objective on Amdocs from $111.00 to $92.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amdocs in a report on Friday, May 8th. Stifel Nicolaus dropped their price objective on Amdocs from $88.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Finally, Cfra lowered Amdocs to a “sell” rating in a report on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Amdocs has an average rating of “Hold” and a consensus price target of $86.67.

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.