Lord Abbett & CO. LLC Has $61.84 Million Position in Amdocs Limited (DOX)
Lord Abbett & CO. LLC increased its stake in Amdocs Limited (NASDAQ:DOX) by 4.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 959,422 shares of the technology company’s stock after purchasing an additional 40,187 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.66% of Amdocs Limited worth $61,844,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of DOX. Fox Run Management L.L.C. purchased a new position in Amdocs Limited during the 2nd quarter valued at about $851,000. KCG Holdings Inc. grew its stake in Amdocs Limited by 118.7% during the 1st quarter. KCG Holdings Inc. now owns 15,275 shares of the technology company’s stock valued at $932,000 after acquiring an additional 8,292 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Amdocs Limited by 647.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 4,566 shares of the technology company’s stock valued at $278,000 after acquiring an additional 3,955 shares in the last quarter. Victory Capital Management Inc. grew its stake in Amdocs Limited by 21.3% during the 2nd quarter. Victory Capital Management Inc. now owns 38,676 shares of the technology company’s stock valued at $2,493,000 after acquiring an additional 6,783 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Amdocs Limited by 6.0% during the 2nd quarter. Wells Fargo & Company MN now owns 4,685,936 shares of the technology company’s stock valued at $302,057,000 after acquiring an additional 266,473 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.
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Several equities analysts have weighed in on the company. Zacks Investment Research raised Amdocs Limited from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Friday, August 4th. Barclays PLC reaffirmed a “hold” rating and set a $68.00 target price on shares of Amdocs Limited in a research note on Friday, August 4th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $77.00 target price (up previously from $70.00) on shares of Amdocs Limited in a research note on Monday, September 18th. BidaskClub raised Amdocs Limited from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 target price on shares of Amdocs Limited in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Amdocs Limited currently has an average rating of “Hold” and an average price target of $69.88.
Amdocs Limited (NASDAQ:DOX) traded down 0.29% during trading on Wednesday, reaching $65.91. The company’s stock had a trading volume of 317,817 shares. The stock’s 50 day moving average is $64.36 and its 200-day moving average is $63.91. The firm has a market cap of $9.58 billion, a P/E ratio of 22.96 and a beta of 0.53. Amdocs Limited has a 52 week low of $54.91 and a 52 week high of $67.98.
Amdocs Limited (NASDAQ:DOX) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.06. Amdocs Limited had a return on equity of 14.75% and a net margin of 11.11%. The company had revenue of $967.00 million during the quarter, compared to the consensus estimate of $967.04 million. During the same period in the prior year, the company earned $0.90 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts forecast that Amdocs Limited will post $3.81 earnings per share for the current fiscal 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. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.88 annualized dividend and a dividend yield of 1.33%. Amdocs Limited’s dividend payout ratio (DPR) is currently 30.66%.
Amdocs Limited 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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