Amdocs Limited (DOX) Shares Sold by State Street Corp
State Street Corp reduced its stake in shares of Amdocs Limited (NASDAQ:DOX) by 0.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,976,751 shares of the technology company’s stock after selling 13,209 shares during the period. State Street Corp owned approximately 1.35% of Amdocs Limited worth $120,563,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Park Avenue Securities LLC raised its position in shares of Amdocs Limited by 9.4% in the first quarter. Park Avenue Securities LLC now owns 5,615 shares of the technology company’s stock valued at $342,000 after buying an additional 484 shares during the period. ProShare Advisors LLC purchased a new position in Amdocs Limited during the first quarter worth about $224,000. First Manhattan Co. raised its position in Amdocs Limited by 0.9% in the first quarter. First Manhattan Co. now owns 279,771 shares of the technology company’s stock worth $16,184,000 after buying an additional 2,538 shares during the last quarter. Nationwide Fund Advisors raised its position in Amdocs Limited by 21.3% in the first quarter. Nationwide Fund Advisors now owns 271,324 shares of the technology company’s stock worth $16,548,000 after buying an additional 47,594 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of Amdocs Limited by 287.1% in the first quarter. State of Alaska Department of Revenue now owns 22,644 shares of the technology company’s stock worth $1,380,000 after buying an additional 16,794 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.
Amdocs Limited (NASDAQ DOX) traded up 0.15% during trading on Friday, hitting $66.27. 477,868 shares of the company’s stock traded hands. The company has a market cap of $9.67 billion, a PE ratio of 23.03 and a beta of 0.54. Amdocs Limited has a 52-week low of $54.91 and a 52-week high of $67.62. The company’s 50 day moving average price is $65.23 and its 200 day moving average price is $62.44.
Amdocs Limited (NASDAQ:DOX) last released its earnings results on Wednesday, August 2nd. The technology company reported $1.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.06. The company had revenue of $967 million for the quarter, compared to analysts’ expectations of $967.04 million. Amdocs Limited had a return on equity of 14.83% and a net margin of 11.11%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 EPS. Analysts expect that Amdocs Limited will post $3.83 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Thursday, September 28th. Amdocs Limited’s payout ratio is 30.66%.
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A number of equities research analysts recently issued reports on DOX shares. Zacks Investment Research cut shares of Amdocs Limited from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. BidaskClub cut shares of Amdocs Limited from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. Stifel Nicolaus restated a “buy” rating and issued a $68.00 price objective on shares of Amdocs Limited in a research report on Wednesday, June 28th. Jefferies Group LLC reissued a “hold” rating and set a $59.00 price objective on shares of Amdocs Limited in a research note on Friday, June 16th. Finally, J P Morgan Chase & Co reissued a “neutral” rating and set a $68.00 price objective on shares of Amdocs Limited in a research note on Tuesday, May 9th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $67.57.
Amdocs Limited Company 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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