Manning & Napier Advisors LLC cut its holdings in Amdocs Limited (NASDAQ:DOX) by 6.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,798,207 shares of the technology company’s stock after selling 199,545 shares during the quarter. Amdocs Limited comprises approximately 1.5% of Manning & Napier Advisors LLC’s holdings, making the stock its 22nd largest position. Manning & Napier Advisors LLC owned about 1.93% of Amdocs Limited worth $179,979,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of DOX. Teachers Advisors LLC raised its position in shares of Amdocs Limited by 23.2% in the first quarter. Teachers Advisors LLC now owns 228,708 shares of the technology company’s stock valued at $13,949,000 after purchasing an additional 43,089 shares during the period. Vanguard Group Inc. boosted its stake in shares of Amdocs Limited by 15.0% in the 1st quarter. Vanguard Group Inc. now owns 589,488 shares of the technology company’s stock valued at $35,953,000 after purchasing an additional 77,102 shares in the last quarter. HighTower Advisors LLC acquired a new stake in shares of Amdocs Limited in the 1st quarter valued at $220,000. Nomura Asset Management Co. Ltd. boosted its stake in shares of Amdocs Limited by 313.0% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 4,750 shares of the technology company’s stock valued at $290,000 after purchasing an additional 3,600 shares in the last quarter. Finally, Atria Investments LLC acquired a new position in Amdocs Limited during the 2nd quarter worth about $218,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.
A number of brokerages have recently commented on DOX. BidaskClub raised Amdocs Limited from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $72.00 price target (up previously from $68.00) on shares of Amdocs Limited in a research report on Thursday, August 3rd. Zacks Investment Research raised Amdocs Limited from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Friday, August 4th. Barclays PLC reaffirmed a “hold” rating and set a $68.00 price target on shares of Amdocs Limited in a report on Friday, August 4th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $66.00 price target on shares of Amdocs Limited in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $70.29.
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Shares of Amdocs Limited (DOX) traded up $0.97 during mid-day trading on Friday, reaching $64.79. The company’s stock had a trading volume of 1,646,900 shares, compared to its average volume of 689,314. The company has a market capitalization of $9,390.00, a P/E ratio of 18.03, a P/E/G ratio of 2.19 and a beta of 0.53. Amdocs Limited has a 1-year low of $56.10 and a 1-year high of $67.98.
Amdocs Limited (NASDAQ:DOX) last announced its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.05. Amdocs Limited had a return on equity of 14.77% and a net margin of 11.30%. The business had revenue of $979.70 million during the quarter, compared to the consensus estimate of $977.72 million. During the same quarter in the prior year, the company posted $0.89 earnings per share. Amdocs Limited’s revenue was up 4.2% compared to the same quarter last year. sell-side analysts expect that Amdocs Limited will post 3.72 EPS for the current fiscal year.
Amdocs Limited announced that its board has initiated a share repurchase plan on Wednesday, November 8th that authorizes the company to buyback $800.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.36%. Amdocs Limited’s dividend payout ratio is presently 29.73%.
Amdocs Limited 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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