Hilton Capital Management LLC Buys New Position in Amdocs Limited (NASDAQ:DOX)

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Hilton Capital Management LLC bought a new stake in shares of Amdocs Limited (NASDAQ:DOX) during the first quarter, Holdings Channel reports. The fund bought 2,941 shares of the technology company’s stock, valued at approximately $159,000.

Several other institutional investors and hedge funds also recently made changes to their positions in DOX. Lunia Capital LP purchased a new position in Amdocs during the 4th quarter valued at about $20,647,000. FMR LLC lifted its position in Amdocs by 9.3% during the 4th quarter. FMR LLC now owns 18,209,169 shares of the technology company’s stock valued at $1,066,693,000 after acquiring an additional 1,543,698 shares during the period. Norges Bank purchased a new position in Amdocs during the 4th quarter valued at about $89,204,000. Wells Fargo & Company MN lifted its position in Amdocs by 28.1% during the 1st quarter. Wells Fargo & Company MN now owns 5,951,683 shares of the technology company’s stock valued at $322,045,000 after acquiring an additional 1,303,903 shares during the period. Finally, Beutel Goodman & Co Ltd. lifted its position in Amdocs by 41.9% during the 1st quarter. Beutel Goodman & Co Ltd. now owns 2,918,932 shares of the technology company’s stock valued at $118,189,000 after acquiring an additional 862,601 shares during the period. 91.54% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs stock traded up $0.34 during trading hours on Friday, hitting $61.17. The stock had a trading volume of 7,641 shares, compared to its average volume of 890,660. The stock has a market capitalization of $8.49 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 1.79 and a beta of 0.39. Amdocs Limited has a 12-month low of $52.60 and a 12-month high of $70.31.

Amdocs (NASDAQ:DOX) last issued its earnings results on Tuesday, May 14th. The technology company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.03. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Amdocs had a net margin of 8.96% and a return on equity of 15.18%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 earnings per share. On average, research analysts forecast that Amdocs Limited will post 4.01 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, June 28th will be issued a $0.285 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.14 annualized dividend and a yield of 1.86%. Amdocs’s dividend payout ratio (DPR) is presently 30.48%.

DOX has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Amdocs from $70.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, May 15th. BidaskClub raised shares of Amdocs from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 1st. ValuEngine cut shares of Amdocs from a “hold” rating to a “sell” rating in a research report on Friday, February 15th. TheStreet raised shares of Amdocs from a “c+” rating to a “b-” rating in a research report on Tuesday, June 4th. Finally, Zacks Investment Research raised shares of Amdocs from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Friday, May 17th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $71.40.

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Amdocs Company Profile

Amdocs Limited, through its subsidiaries, provides software and services to the communications, pay TV, entertainment, and media industry service providers worldwide. The company offers amdocsONE a line of services designed for various stages of a service provider's lifecycle, including planning, delivery, implementation, and ongoing support, as well as consumer experience and monetization, media and digital, enterprise and connected society, service-driven network, and services and agile operation solutions.

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Want to see what other hedge funds are holding DOX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amdocs Limited (NASDAQ:DOX).

Institutional Ownership by Quarter for Amdocs (NASDAQ:DOX)

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