Glenmede Trust Co. NA Sells 14,736 Shares of Amdocs Limited $DOX

Glenmede Trust Co. NA decreased its stake in shares of Amdocs Limited (NASDAQ:DOX) by 10.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 131,295 shares of the technology company’s stock after selling 14,736 shares during the period. Glenmede Trust Co. NA owned 0.12% of Amdocs worth $8,568,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in DOX. Pzena Investment Management LLC boosted its position in Amdocs by 82.6% during the fourth quarter. Pzena Investment Management LLC now owns 12,037,015 shares of the technology company’s stock worth $969,100,000 after purchasing an additional 5,443,766 shares during the period. Alyeska Investment Group L.P. raised its position in shares of Amdocs by 155.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,110,393 shares of the technology company’s stock valued at $169,908,000 after purchasing an additional 1,283,231 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Amdocs by 19.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,463,797 shares of the technology company’s stock valued at $226,045,000 after purchasing an additional 571,036 shares during the period. Squarepoint Ops LLC lifted its stake in shares of Amdocs by 469.4% in the fourth quarter. Squarepoint Ops LLC now owns 543,875 shares of the technology company’s stock worth $43,787,000 after buying an additional 448,358 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its stake in shares of Amdocs by 501.1% in the fourth quarter. Voloridge Investment Management LLC now owns 520,494 shares of the technology company’s stock worth $41,905,000 after buying an additional 433,907 shares during the last quarter. 92.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Cfra downgraded shares of Amdocs to a “sell” rating in a report on Thursday, May 14th. Stifel Nicolaus cut their target price on shares of Amdocs from $88.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. KeyCorp assumed coverage on shares of Amdocs in a research report on Monday, June 29th. They set a “sector weight” rating for the company. Wall Street Zen cut shares of Amdocs from a “buy” rating to a “hold” rating in a report on Sunday, July 5th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amdocs in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $86.67.

Amdocs Stock Down 0.6%

DOX opened at $55.37 on Tuesday. The business has a 50 day moving average of $54.77 and a 200-day moving average of $63.90. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 0.97 and a beta of 0.41. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. Amdocs Limited has a 1-year low of $49.74 and a 1-year high of $90.29.

Amdocs (NASDAQ:DOX) last announced its earnings results on Thursday, May 14th. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.01. Amdocs had a net margin of 11.81% and a return on equity of 19.77%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm posted $1.78 earnings per share. Amdocs’s revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amdocs Limited will post 6.56 earnings per share for the current year.

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were given a dividend of $0.569 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.1%. Amdocs’s dividend payout ratio is currently 45.40%.

Amdocs Profile

Amdocs (NASDAQ: DOX) is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs’ product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra’anana, Israel.