Nationwide Fund Advisors Sells 12,611 Shares of Amdocs Limited (DOX)
Nationwide Fund Advisors lowered its stake in Amdocs Limited (NASDAQ:DOX) by 5.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 225,805 shares of the technology company’s stock after selling 12,611 shares during the quarter. Nationwide Fund Advisors owned about 0.16% of Amdocs worth $14,524,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Nomura Holdings Inc. acquired a new stake in Amdocs during the 2nd quarter valued at approximately $419,000. Victory Capital Management Inc. grew its stake in Amdocs 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 purchasing an additional 6,783 shares in the last quarter. Caxton Associates LP acquired a new stake in Amdocs during the 2nd quarter valued at approximately $748,000. Seven Eight Capital LP grew its stake in Amdocs by 46.4% during the 2nd quarter. Seven Eight Capital LP now owns 39,100 shares of the technology company’s stock valued at $2,520,000 after purchasing an additional 12,400 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Amdocs 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 purchasing an additional 266,473 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.
A number of equities research analysts have weighed in on DOX shares. BidaskClub lowered Amdocs from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 16th. Zacks Investment Research downgraded Amdocs from a “buy” rating to a “hold” rating in a report on Monday, November 13th. Robert W. Baird reaffirmed a “hold” rating and set a $66.00 target price on shares of Amdocs in a report on Friday, September 1st. Jefferies Group reaffirmed a “hold” rating and set a $70.00 target price on shares of Amdocs in a report on Thursday, October 12th. Finally, Oppenheimer reaffirmed a “buy” rating and set a $77.00 target price on shares of Amdocs in a report on Thursday, November 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Amdocs has an average rating of “Hold” and an average target price of $70.29.
Amdocs (NASDAQ:DOX) last released its earnings results on Wednesday, November 8th. The technology company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.05. Amdocs had a return on equity of 14.77% and a net margin of 11.30%. The company had revenue of $979.70 million for the quarter, compared to the consensus estimate of $977.72 million. During the same quarter last year, the business posted $0.89 EPS. Amdocs’s quarterly revenue was up 4.2% compared to the same quarter last year. sell-side analysts predict that Amdocs Limited will post 3.72 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Thursday, December 28th. Amdocs’s dividend payout ratio (DPR) is 29.73%.
Amdocs announced that its Board of Directors has initiated a stock repurchase program on Wednesday, November 8th that authorizes the company to repurchase $800.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
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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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