Legal & General Group Plc trimmed its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 0.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 633,927 shares of the technology company’s stock after selling 1,618 shares during the quarter. Legal & General Group Plc owned approximately 0.43% of Amdocs Limited worth $40,862,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. OLD National Bancorp IN increased its holdings in Amdocs Limited by 0.6% during the second quarter. OLD National Bancorp IN now owns 4,358 shares of the technology company’s stock valued at $281,000 after buying an additional 25 shares during the period. Smith Moore & CO. increased its holdings in Amdocs Limited by 1.0% during the first quarter. Smith Moore & CO. now owns 5,371 shares of the technology company’s stock valued at $328,000 after buying an additional 53 shares during the period. Financial Counselors Inc. increased its holdings in Amdocs Limited by 1.4% during the first quarter. Financial Counselors Inc. now owns 5,127 shares of the technology company’s stock valued at $313,000 after buying an additional 70 shares during the period. Huntington National Bank increased its holdings in Amdocs Limited by 2.6% during the second quarter. Huntington National Bank now owns 4,565 shares of the technology company’s stock valued at $295,000 after buying an additional 117 shares during the period. Finally, Wetherby Asset Management Inc. increased its holdings in Amdocs Limited by 4.4% during the first quarter. Wetherby Asset Management Inc. now owns 3,812 shares of the technology company’s stock valued at $232,000 after buying an additional 162 shares during the period. 89.31% of the stock is currently owned by institutional investors.
Amdocs Limited (NASDAQ DOX) traded down 0.36% during midday trading on Wednesday, hitting $63.65. 659,630 shares of the stock traded hands. Amdocs Limited has a one year low of $54.91 and a one year high of $67.98. The company has a 50-day moving average price of $64.61 and a 200 day moving average price of $63.43. The stock has a market cap of $9.25 billion, a price-to-earnings ratio of 22.17 and a beta of 0.53.
Amdocs Limited (NASDAQ:DOX) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.06. Amdocs Limited had a net margin of 11.11% and a return on equity of 14.75%. The company had revenue of $967.00 million for the quarter, compared to the consensus estimate of $967.04 million. During the same period in the prior year, the firm posted $0.90 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts anticipate that Amdocs Limited will post $3.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Thursday, September 28th. Amdocs Limited’s dividend payout ratio is presently 30.66%.
Several equities research analysts have weighed in on the stock. Jefferies Group LLC restated a “hold” rating and issued a $59.00 target price on shares of Amdocs Limited in a research note on Friday, June 16th. Zacks Investment Research downgraded shares of Amdocs Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. Stifel Nicolaus restated a “buy” rating and issued a $68.00 target price on shares of Amdocs Limited in a research note on Wednesday, June 28th. BidaskClub downgraded shares of Amdocs Limited from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. Finally, Robert W. Baird restated a “hold” rating and issued a $66.00 target price on shares of Amdocs Limited in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $67.63.
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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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