Fiduciary Trust Co. reduced its holdings in Amdocs Limited (NASDAQ:DOX) by 34.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,898 shares of the technology company’s stock after selling 1,495 shares during the period. Fiduciary Trust Co.’s holdings in Amdocs Limited were worth $187,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. FMR LLC increased its position in Amdocs Limited by 12.8% in the 1st quarter. FMR LLC now owns 12,620,266 shares of the technology company’s stock worth $769,710,000 after purchasing an additional 1,435,539 shares during the last quarter. BlackRock Inc. increased its position in Amdocs Limited by 1,661.3% in the 1st quarter. BlackRock Inc. now owns 8,715,991 shares of the technology company’s stock worth $531,590,000 after purchasing an additional 8,221,139 shares during the last quarter. Janus Capital Management LLC increased its position in Amdocs Limited by 9.7% in the 1st quarter. Janus Capital Management LLC now owns 6,759,428 shares of the technology company’s stock worth $412,250,000 after purchasing an additional 599,865 shares during the last quarter. OppenheimerFunds Inc. increased its position in Amdocs Limited by 8.2% in the 1st quarter. OppenheimerFunds Inc. now owns 4,451,655 shares of the technology company’s stock worth $271,507,000 after purchasing an additional 337,655 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Amdocs Limited by 6.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,991,536 shares of the technology company’s stock worth $243,444,000 after purchasing an additional 234,508 shares during the last quarter. 89.31% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have weighed in on DOX. Zacks Investment Research raised Amdocs Limited from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Friday, August 4th. Barclays PLC reaffirmed a “hold” rating and issued a $68.00 target price on shares of Amdocs Limited in a research report on Friday, August 4th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $70.00 target price on shares of Amdocs Limited in a research report on Tuesday, September 5th. BidaskClub raised Amdocs Limited from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $59.00 target price on shares of Amdocs Limited in a research report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $67.63.
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Amdocs Limited (DOX) opened at 63.88 on Wednesday. Amdocs Limited has a one year low of $54.91 and a one year high of $67.98. The firm has a market cap of $9.29 billion, a price-to-earnings ratio of 22.25 and a beta of 0.53. The stock’s 50 day moving average price is $64.67 and its 200-day moving average price is $63.41.
Amdocs Limited (NASDAQ:DOX) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. Amdocs Limited had a return on equity of 14.75% and a net margin of 11.11%. The company had revenue of $967.00 million for the quarter, compared to analyst estimates of $967.04 million. During the same period in the previous year, the company posted $0.90 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. Analysts forecast that Amdocs Limited will post $3.81 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, September 29th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.88 annualized dividend and a yield of 1.38%. Amdocs Limited’s payout ratio is presently 30.66%.
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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