First Citizens Bank & Trust Co. Acquires New Stake in Amdocs Limited $DOX

First Citizens Bank & Trust Co. bought a new stake in shares of Amdocs Limited (NASDAQ:DOX) in the third quarter, Holdings Channel.com reports. The institutional investor bought 16,596 shares of the technology company’s stock, valued at approximately $949,000.

Several other institutional investors also recently bought and sold shares of DOX. Royal Bank of Canada increased its position in shares of Amdocs by 14.9% during the first quarter. Royal Bank of Canada now owns 446,125 shares of the technology company’s stock worth $29,114,000 after purchasing an additional 57,740 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Amdocs by 429.6% in the 1st quarter. Renaissance Technologies LLC now owns 291,800 shares of the technology company’s stock worth $19,043,000 after purchasing an additional 236,700 shares in the last quarter. Arbejdsmarkedets Tillaegspension boosted its position in shares of Amdocs by 17.5% in the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 354,383 shares of the technology company’s stock worth $23,127,000 after purchasing an additional 52,906 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Amdocs by 29.1% in the 1st quarter. Bank of America Corp DE now owns 1,262,263 shares of the technology company’s stock worth $82,375,000 after purchasing an additional 284,435 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its stake in Amdocs by 39.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 82,765 shares of the technology company’s stock worth $4,183,000 after buying an additional 23,315 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Weiss Ratings lowered Amdocs from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Wall Street Zen upgraded Amdocs from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. Finally, KeyCorp began coverage on Amdocs in a report on Monday, June 29th. They issued a “sector weight” rating for the company. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $86.67.

Amdocs Stock Down 1.0%

NASDAQ:DOX opened at $60.06 on Friday. The firm has a market capitalization of $6.48 billion, a P/E ratio of 9.44, a PEG ratio of 0.97 and a beta of 0.44. Amdocs Limited has a 1-year low of $49.74 and a 1-year high of $85.63. The company’s fifty day moving average price is $59.95 and its 200-day moving average price is $59.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.94.

Amdocs (NASDAQ:DOX) last posted its earnings results on Thursday, August 6th. The technology company reported $1.84 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.84. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. Amdocs had a net margin of 9.75% and a return on equity of 20.28%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.72 earnings per share. As a group, equities research analysts anticipate that Amdocs Limited will post 6.56 EPS for the current year.

Amdocs Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.5690 per share. This represents a $2.28 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Amdocs’s dividend payout ratio (DPR) is currently 54.29%.

About Amdocs

Amdocs Limited (NASDAQ: DOX) is a global provider of software and services for communications, media and entertainment companies. Its offerings help service providers manage customer relationships, billing, product catalogs, ordering, network operations and digital experiences across consumer and enterprise markets.

The company provides business support systems and operational support systems, along with cloud-based platforms, artificial intelligence and data solutions, cybersecurity, network services and managed services.