PNC Financial Services Group Inc. decreased its position in Amdocs Ltd. (NASDAQ:DOX) by 5.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 393,890 shares of the company’s stock after selling 22,049 shares during the period. PNC Financial Services Group Inc. owned about 0.27% of Amdocs worth $22,787,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Royal Bank of Canada raised its position in Amdocs by 17.7% in the first quarter. Royal Bank of Canada now owns 238,074 shares of the company’s stock valued at $14,384,000 after buying an additional 35,745 shares during the last quarter. First Republic Investment Management Inc. raised its position in Amdocs by 121.0% in the first quarter. First Republic Investment Management Inc. now owns 9,017 shares of the company’s stock valued at $545,000 after buying an additional 4,937 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Amdocs by 0.6% in the second quarter. BNP Paribas Arbitrage SA now owns 29,796 shares of the company’s stock valued at $1,720,000 after buying an additional 184 shares during the last quarter. Capstone Asset Management Co. raised its position in Amdocs by 1.7% in the second quarter. Capstone Asset Management Co. now owns 45,779 shares of the company’s stock valued at $2,642,000 after buying an additional 749 shares during the last quarter. Finally, Denali Advisors LLC raised its position in Amdocs by 23.5% in the second quarter. Denali Advisors LLC now owns 124,500 shares of the company’s stock valued at $7,186,000 after buying an additional 23,700 shares during the last quarter. Institutional investors own 88.68% of the company’s stock.

Institutional Ownership by Quarter for Amdocs (NASDAQ:DOX)

Amdocs Ltd. (NASDAQ:DOX) traded down 0.620% during midday trading on Tuesday, hitting $60.105. 107,647 shares of the stock traded hands. Amdocs Ltd. has a 52 week low of $50.06 and a 52 week high of $61.33. The stock’s 50-day moving average price is $58.83 and its 200-day moving average price is $58.39. The stock has a market capitalization of $8.85 billion, a P/E ratio of 22.179 and a beta of 0.68.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.00. The business earned $940.70 million during the quarter, compared to analyst estimates of $941.19 million. Amdocs had a net margin of 11.01% and a return on equity of 14.61%. Amdocs’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business earned $0.84 EPS. Equities research analysts expect that Amdocs Ltd. will post $3.79 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Friday, December 30th will be paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.29%. Amdocs’s dividend payout ratio is presently 28.78%.

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Several research firms recently issued reports on DOX. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $65.00 target price on shares of Amdocs in a report on Monday, October 24th. Jefferies Group boosted their target price on shares of Amdocs from $56.00 to $58.00 and gave the company a “hold” rating in a report on Tuesday, August 2nd. Finally, Bank of America Corp. reaffirmed a “buy” rating and issued a $63.00 price target on shares of Amdocs in a research note on Wednesday, November 9th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $63.33.

About Amdocs

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.

5 Day Chart for NASDAQ:DOX

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