Amdocs Limited (DOX) Position Trimmed by ClariVest Asset Management LLC
ClariVest Asset Management LLC decreased its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 4.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 147,281 shares of the technology company’s stock after selling 6,350 shares during the quarter. ClariVest Asset Management LLC owned approximately 0.10% of Amdocs Limited worth $9,474,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. BB&T Investment Services Inc. purchased a new stake in Amdocs Limited in the second quarter valued at approximately $118,000. Acrospire Investment Management LLC purchased a new stake in Amdocs Limited in the second quarter valued at approximately $155,000. Robecosam AG lifted its stake in Amdocs Limited by 37.8% in the second quarter. Robecosam AG now owns 2,550 shares of the technology company’s stock valued at $163,000 after buying an additional 700 shares during the last quarter. Sawtooth Solutions LLC purchased a new stake in Amdocs Limited in the second quarter valued at approximately $220,000. Finally, CIBC World Markets Inc. purchased a new stake in Amdocs Limited in the second quarter valued at approximately $222,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.
Amdocs Limited (DOX) traded down $1.26 during midday trading on Friday, reaching $63.53. The company had a trading volume of 1,180,000 shares, compared to its average volume of 995,474. Amdocs Limited has a 1 year low of $56.10 and a 1 year high of $67.98. The stock has a market capitalization of $9,330.00, a P/E ratio of 18.02, a PEG ratio of 2.19 and a beta of 0.53.
Amdocs Limited (NASDAQ:DOX) last announced its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.05. The company had revenue of $979.70 million during the quarter, compared to analyst estimates of $977.72 million. Amdocs Limited had a return on equity of 12.02% and a net margin of 10.94%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 earnings per share. research analysts forecast that Amdocs Limited will post 3.72 EPS for the current fiscal year.
Amdocs Limited declared that its board has approved a share repurchase program on Wednesday, November 8th that permits the company to buyback $800.00 million in outstanding shares. This buyback authorization permits the technology company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.88 dividend on an annualized basis and a yield of 1.39%. Amdocs Limited’s dividend payout ratio (DPR) is presently 29.73%.
A number of research analysts have recently issued reports on the company. BidaskClub lowered Amdocs Limited from a “sell” rating to a “strong sell” rating in a report on Saturday, September 16th. Robert W. Baird reissued a “hold” rating and issued a $66.00 target price on shares of Amdocs Limited in a report on Friday, September 1st. Jefferies Group LLC reissued a “hold” rating and issued a $70.00 target price on shares of Amdocs Limited in a report on Thursday, October 12th. Zacks Investment Research lowered Amdocs Limited from a “buy” rating to a “hold” rating in a report on Monday, November 13th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $72.00 price objective (up previously from $68.00) on shares of Amdocs Limited in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $70.29.
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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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