Signet Financial Management LLC lowered its position in Amdocs Limited (NASDAQ:DOX) by 95.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 3,432 shares of the technology company’s stock after selling 69,064 shares during the period. Signet Financial Management LLC’s holdings in Amdocs were worth $227,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in DOX. Meeder Asset Management Inc. bought a new position in shares of Amdocs in the second quarter valued at approximately $107,000. Bristol John W & Co. Inc. NY bought a new position in shares of Amdocs in the first quarter valued at approximately $193,000. BNP Paribas Arbitrage SA lifted its holdings in Amdocs by 102.4% during the second quarter. BNP Paribas Arbitrage SA now owns 4,373 shares of the technology company’s stock worth $289,000 after acquiring an additional 2,212 shares during the period. Element Capital Management LLC bought a new stake in Amdocs during the first quarter worth $302,000. Finally, Hartford Investment Management Co. bought a new stake in Amdocs during the second quarter worth $343,000. Institutional investors and hedge funds own 91.25% of the company’s stock.
NASDAQ:DOX opened at $65.22 on Wednesday. Amdocs Limited has a 1 year low of $61.00 and a 1 year high of $71.72. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 2.05 and a beta of 0.52.
Amdocs (NASDAQ:DOX) last released its earnings results on Tuesday, July 31st. The technology company reported $0.97 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.97. Amdocs had a return on equity of 15.00% and a net margin of 10.56%. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. equities analysts predict that Amdocs Limited will post 3.75 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 19th. Shareholders of record on Friday, September 28th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Thursday, September 27th. Amdocs’s dividend payout ratio is currently 28.17%.
A number of brokerages recently commented on DOX. Zacks Investment Research upgraded Amdocs from a “sell” rating to a “hold” rating in a report on Monday, August 20th. BidaskClub lowered Amdocs from a “sell” rating to a “strong sell” rating in a report on Thursday, August 30th. Citigroup dropped their price target on Amdocs from $79.00 to $77.00 and set a “buy” rating on the stock in a report on Thursday, August 2nd. Barclays set a $73.00 price target on Amdocs and gave the stock a “hold” rating in a report on Wednesday, August 1st. Finally, Robert W. Baird reiterated a “hold” rating and set a $72.00 price target on shares of Amdocs in a report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $72.60.
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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