Vanguard Group Inc. Has $35.95 Million Stake in Amdocs Limited (DOX)
Vanguard Group Inc. boosted its position in Amdocs Limited (NASDAQ:DOX) by 15.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 589,488 shares of the technology company’s stock after buying an additional 77,102 shares during the period. Vanguard Group Inc.’s holdings in Amdocs Limited were worth $35,953,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. Robecosam AG bought a new position in Amdocs Limited during the first quarter worth $114,000. Creative Planning increased its position in Amdocs Limited by 62.7% in the first quarter. Creative Planning now owns 2,198 shares of the technology company’s stock worth $134,000 after buying an additional 847 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Amdocs Limited by 30.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,969 shares of the technology company’s stock worth $181,000 after buying an additional 696 shares in the last quarter. ProShare Advisors LLC bought a new position in Amdocs Limited during the first quarter worth $224,000. Finally, Wetherby Asset Management Inc. increased its position in Amdocs Limited by 4.4% in the first quarter. Wetherby Asset Management Inc. now owns 3,812 shares of the technology company’s stock worth $232,000 after buying an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 88.74% of the company’s stock.
Amdocs Limited (NASDAQ:DOX) traded down 0.84% on Tuesday, hitting $62.71. 238,833 shares of the stock traded hands. The stock has a 50-day moving average of $65.34 and a 200-day moving average of $62.82. The firm has a market cap of $9.15 billion, a price-to-earnings ratio of 21.79 and a beta of 0.54. Amdocs Limited has a 12-month low of $54.91 and a 12-month high of $67.98.
Amdocs Limited (NASDAQ:DOX) last released its earnings results on Wednesday, August 2nd. The technology company reported $1.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.06. The firm had revenue of $967 million during the quarter, compared to analysts’ expectations of $967.04 million. Amdocs Limited had a net margin of 11.11% and a return on equity of 14.73%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 EPS. Analysts forecast that Amdocs Limited will post $3.81 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Thursday, September 28th. Amdocs Limited’s dividend payout ratio (DPR) is presently 30.66%.
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Several research firms recently issued reports on DOX. Zacks Investment Research downgraded shares of Amdocs Limited from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Stifel Nicolaus reaffirmed a “buy” rating and set a $72.00 price target (up previously from $68.00) on shares of Amdocs Limited in a research note on Thursday, August 3rd. BidaskClub downgraded shares of Amdocs Limited from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. Jefferies Group LLC reaffirmed a “hold” rating and set a $59.00 price target on shares of Amdocs Limited in a research note on Friday, June 16th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $68.00 price target on shares of Amdocs Limited in a research note on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $67.63.
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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