California State Teachers Retirement System lowered its stake in Amdocs Limited (NASDAQ:DOX) by 11.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 268,967 shares of the technology company’s stock after selling 34,827 shares during the period. California State Teachers Retirement System owned approximately 0.18% of Amdocs Limited worth $17,338,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Acrospire Investment Management LLC acquired a new position in Amdocs Limited in the 2nd quarter valued at about $155,000. Atria Investments LLC acquired a new position in Amdocs Limited in the 2nd quarter valued at about $218,000. HighTower Advisors LLC acquired a new position in Amdocs Limited in the 1st quarter valued at about $220,000. Sawtooth Solutions LLC acquired a new position in Amdocs Limited in the 2nd quarter valued at about $220,000. Finally, CIBC World Markets Inc. acquired a new position in Amdocs Limited in the 2nd quarter valued at about $222,000. Institutional investors and hedge funds own 89.30% of the company’s stock.
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Amdocs Limited (NASDAQ:DOX) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06. Amdocs Limited had a net margin of 11.11% and a return on equity of 14.75%. The business had revenue of $967.00 million during the quarter, compared to the consensus estimate of $967.04 million. During the same quarter last year, the company posted $0.90 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be paid a $0.22 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.88 annualized dividend and a dividend yield of 1.33%. Amdocs Limited’s payout ratio is 30.66%.
A number of research analysts recently commented on DOX shares. Zacks Investment Research lowered shares of Amdocs Limited from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. BidaskClub lowered shares of Amdocs Limited from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 16th. Robert W. Baird reiterated a “hold” rating and issued a $66.00 price target on shares of Amdocs Limited in a research note on Friday, September 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $72.00 price target (up previously from $68.00) on shares of Amdocs Limited in a research note on Thursday, August 3rd. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $70.00 price target on shares of Amdocs Limited in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $69.88.
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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