Commonwealth Bank of Australia raised its stake in Amdocs Limited (NASDAQ:DOX) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,836 shares of the technology company’s stock after acquiring an additional 500 shares during the quarter. Commonwealth Bank of Australia’s holdings in Amdocs Limited were worth $956,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Robecosam AG bought a new position in Amdocs Limited in the 1st quarter valued at about $114,000. Atria Investments LLC bought a new position in Amdocs Limited in the 2nd quarter valued at about $218,000. Sawtooth Solutions LLC bought a new position in Amdocs Limited in the 2nd quarter valued at about $220,000. Prudential Financial Inc. bought a new position in Amdocs Limited in the 2nd quarter valued at about $230,000. Finally, HighTower Advisors LLC bought a new position in Amdocs Limited in the 1st quarter valued at about $220,000. 89.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Amdocs Limited (NASDAQ:DOX) opened at 62.49 on Friday. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 21.77 and a beta of 0.53. Amdocs Limited has a 52-week low of $54.91 and a 52-week high of $67.98. The company’s 50 day moving average is $64.29 and its 200 day moving average is $63.44.
Amdocs Limited (NASDAQ:DOX) last posted its earnings results on Wednesday, August 2nd. The technology company reported $1.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.06. The business had revenue of $967.00 million for the quarter, compared to analyst estimates of $967.04 million. Amdocs Limited had a net margin of 11.11% and a return on equity of 14.75%. Amdocs Limited’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 EPS. Analysts anticipate that Amdocs Limited will post $3.81 earnings per share for the current year.
The company 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. This represents a $0.88 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Thursday, September 28th. Amdocs Limited’s dividend payout ratio (DPR) is presently 30.66%.
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DOX has been the topic of several research analyst reports. Zacks Investment Research cut shares of Amdocs Limited from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. BidaskClub upgraded shares of Amdocs Limited from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Stifel Nicolaus restated a “buy” rating and set a $72.00 target price (up previously from $68.00) on shares of Amdocs Limited in a research report on Thursday, August 3rd. Robert W. Baird restated a “hold” rating and set a $66.00 target price on shares of Amdocs Limited in a research report on Friday, September 1st. Finally, Jefferies Group LLC restated a “hold” rating and set a $59.00 target price on shares of Amdocs Limited in a research report on Friday, June 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $67.63.
About Amdocs Limited
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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