Marks Group Wealth Management Inc Reduces Position in Amdocs Limited (NASDAQ:DOX)

Marks Group Wealth Management Inc decreased its stake in shares of Amdocs Limited (NASDAQ:DOXGet Rating) by 16.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,001 shares of the technology company’s stock after selling 14,197 shares during the period. Marks Group Wealth Management Inc owned 0.05% of Amdocs worth $5,915,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of DOX. Arrowstreet Capital Limited Partnership purchased a new position in Amdocs during the first quarter worth $104,410,000. Pzena Investment Management LLC grew its position in shares of Amdocs by 20.6% in the first quarter. Pzena Investment Management LLC now owns 6,499,823 shares of the technology company’s stock valued at $534,350,000 after purchasing an additional 1,108,489 shares during the period. Parnassus Investments LLC purchased a new stake in shares of Amdocs in the second quarter valued at $70,330,000. Wedge Capital Management L L P NC grew its position in shares of Amdocs by 10,324.9% in the second quarter. Wedge Capital Management L L P NC now owns 552,208 shares of the technology company’s stock valued at $46,004,000 after purchasing an additional 546,911 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Amdocs in the second quarter valued at $39,607,000. Hedge funds and other institutional investors own 88.11% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Barclays lifted their price objective on Amdocs to $100.00 in a research report on Tuesday, November 15th. StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 11th. Robert W. Baird reduced their target price on Amdocs to $85.00 in a report on Tuesday, November 15th. Oppenheimer reiterated an “outperform” rating and issued a $84.00 target price on shares of Amdocs in a report on Thursday, November 10th. Finally, Citigroup reduced their target price on Amdocs from $99.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, November 9th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $90.20.

Amdocs Trading Up 0.7 %

Amdocs stock traded up $0.62 during midday trading on Thursday, reaching $89.48. The stock had a trading volume of 864 shares, compared to its average volume of 533,977. The stock’s 50-day simple moving average is $82.67 and its 200 day simple moving average is $83.93. The stock has a market capitalization of $11.73 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 1.40 and a beta of 0.69. Amdocs Limited has a twelve month low of $68.33 and a twelve month high of $90.77. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.59 and a current ratio of 1.60.

Amdocs (NASDAQ:DOXGet Rating) last issued its quarterly earnings data on Tuesday, November 8th. The technology company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.13. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Amdocs had a return on equity of 16.62% and a net margin of 12.01%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.07 earnings per share. Analysts expect that Amdocs Limited will post 5.35 EPS for the current year.

Amdocs Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Shareholders of record on Friday, December 30th will be paid a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Thursday, December 29th. Amdocs’s dividend payout ratio is presently 35.59%.

Amdocs Company Profile

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Amdocs Limited, through its subsidiaries, provides software and services worldwide. The company designs, develops, operates, implements, supports, and markets open and modular cloud portfolio. It provides CES21, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; the Commerce and Care suite for order capture, handling, and customer engagement; the Monetization suite for charging, billing, policy, and revenue management; Intelligent Networking suite with a set of modular, flexible, and open service lifecycle management capabilities for network automation journeys; MarketONE, a cloud-native business ecosystem; Digital Brands Suite, a pre-integrated digital business suite for digital telecom brands and small-scale service providers; and eSIM Cloud for service providers.

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Institutional Ownership by Quarter for Amdocs (NASDAQ:DOX)

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