World Asset Management Inc Sells 3,458 Shares of Amdocs Limited (DOX)
World Asset Management Inc lessened its holdings in Amdocs Limited (NASDAQ:DOX) by 23.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,194 shares of the technology company’s stock after selling 3,458 shares during the quarter. World Asset Management Inc owned approximately 7,701.41% of Amdocs Limited worth $720,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of DOX. Boston Partners boosted its stake in Amdocs Limited by 0.4% during the 3rd quarter. Boston Partners now owns 7,139,400 shares of the technology company’s stock worth $459,206,000 after acquiring an additional 27,688 shares during the last quarter. American Century Companies Inc. bought a new position in Amdocs Limited during the 3rd quarter worth approximately $11,934,000. Stevens Capital Management LP boosted its stake in Amdocs Limited by 46.4% during the 3rd quarter. Stevens Capital Management LP now owns 70,435 shares of the technology company’s stock worth $4,530,000 after acquiring an additional 22,315 shares during the last quarter. Seizert Capital Partners LLC boosted its stake in Amdocs Limited by 3.1% during the 3rd quarter. Seizert Capital Partners LLC now owns 731,120 shares of the technology company’s stock worth $47,026,000 after acquiring an additional 22,316 shares during the last quarter. Finally, Boston Financial Mangement LLC boosted its stake in Amdocs Limited by 7.1% during the 3rd quarter. Boston Financial Mangement LLC now owns 102,036 shares of the technology company’s stock worth $6,563,000 after acquiring an additional 6,749 shares during the last quarter. 91.22% of the stock is currently owned by institutional investors.
Amdocs Limited (NASDAQ:DOX) opened at $62.52 on Friday. Amdocs Limited has a 52 week low of $56.10 and a 52 week high of $67.98. The firm has a market cap of $9,012.01, a price-to-earnings ratio of 17.51, a P/E/G ratio of 2.12 and a beta of 0.53.
Amdocs Limited (NASDAQ:DOX) last released its earnings results on Wednesday, November 8th. The technology company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.05. Amdocs Limited had a net margin of 11.30% and a return on equity of 14.81%. The business had revenue of $979.70 million during the quarter, compared to analysts’ expectations of $977.72 million. During the same period last year, the business earned $0.89 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. equities analysts anticipate that Amdocs Limited will post 3.81 EPS for the current fiscal year.
Amdocs Limited declared that its board has approved a share buyback program on Wednesday, November 8th that authorizes the company to buyback $800.00 million in shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be paid a $0.22 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.88 annualized dividend and a dividend yield of 1.41%. Amdocs Limited’s dividend payout ratio is presently 29.73%.
Several research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Amdocs Limited from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Friday. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $77.00 target price on shares of Amdocs Limited in a report on Thursday. BidaskClub downgraded shares of Amdocs Limited from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 31st. Robert W. Baird restated a “hold” rating and set a $66.00 target price on shares of Amdocs Limited in a report on Friday, October 20th. Finally, Jefferies Group LLC restated a “hold” rating and set a $70.00 target price on shares of Amdocs Limited in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Amdocs Limited has an average rating of “Hold” and an average target price of $70.29.
About Amdocs Limited
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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