LSV Asset Management increased its stake in shares of Amdocs Limited (NASDAQ:DOX) by 0.9% in the 2nd quarter, Holdings Channel reports. The firm owned 2,033,850 shares of the technology company’s stock after buying an additional 17,800 shares during the quarter. LSV Asset Management’s holdings in Amdocs were worth $134,620,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of DOX. Meeder Asset Management Inc. acquired a new position in Amdocs in the 2nd quarter valued at $107,000. Bristol John W & Co. Inc. NY acquired a new position in Amdocs in the 1st quarter valued at $193,000. BNP Paribas Arbitrage SA raised its holdings in Amdocs by 102.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,373 shares of the technology company’s stock valued at $289,000 after acquiring an additional 2,212 shares during the last quarter. Element Capital Management LLC acquired a new position in Amdocs in the 1st quarter valued at $302,000. Finally, Hartford Investment Management Co. acquired a new position in Amdocs in the 2nd quarter valued at $343,000. Hedge funds and other institutional investors own 91.53% of the company’s stock.
Several research analysts have weighed in on the company. Citigroup cut their price target on Amdocs from $79.00 to $77.00 and set a “buy” rating for the company in a report on Thursday, August 2nd. Zacks Investment Research downgraded Amdocs from a “buy” rating to a “hold” rating in a report on Tuesday, May 22nd. Barclays set a $73.00 price objective on Amdocs and gave the stock a “hold” rating in a report on Wednesday, August 1st. Robert W. Baird restated a “hold” rating and set a $72.00 price objective on shares of Amdocs in a report on Thursday, August 2nd. Finally, BidaskClub downgraded Amdocs from a “hold” rating to a “sell” rating in a report on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $72.60.
DOX stock opened at $65.40 on Friday. The firm has a market cap of $9.27 billion, a PE ratio of 18.42, a PEG ratio of 2.02 and a beta of 0.57. Amdocs Limited has a 52 week low of $61.00 and a 52 week high of $71.72.
Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Tuesday, July 31st. The technology company reported $0.97 EPS for the quarter, hitting analysts’ consensus estimates of $0.97. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. Amdocs had a return on equity of 15.00% and a net margin of 10.56%. research analysts predict that Amdocs Limited will post 3.76 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 19th. Stockholders of record on Friday, September 28th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.53%. Amdocs’s payout ratio is 28.17%.
Amdocs Company Profile
Amdocs Limited, through its subsidiaries, provides software and services solutions to the communications, entertainment, pay TV, and media industry service providers worldwide. The company offers customer experience and monetization solutions that allow its customers to contextual and personalize interactions.
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