Oppenheimer Asset Management Inc. raised its position in shares of Amdocs Limited (NASDAQ:DOX) by 66.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,000 shares of the technology company’s stock after buying an additional 1,590 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Amdocs were worth $249,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in shares of Amdocs during the second quarter valued at about $47,000. Morgan Dempsey Capital Management LLC increased its holdings in Amdocs by 110.0% in the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 905 shares of the technology company’s stock worth $56,000 after buying an additional 474 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in Amdocs in the 2nd quarter worth approximately $60,000. CENTRAL TRUST Co increased its holdings in Amdocs by 56.2% in the 2nd quarter. CENTRAL TRUST Co now owns 1,098 shares of the technology company’s stock worth $69,000 after buying an additional 395 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new position in Amdocs in the 2nd quarter worth approximately $73,000. 94.18% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on DOX. TheStreet upgraded shares of Amdocs from a “c+” rating to a “b-” rating in a report on Tuesday, June 4th. JPMorgan Chase & Co. increased their price target on shares of Amdocs from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Zacks Investment Research downgraded shares of Amdocs from a “buy” rating to a “hold” rating and set a $67.00 price target on the stock. in a report on Tuesday, July 16th. Finally, BidaskClub upgraded shares of Amdocs from a “hold” rating to a “buy” rating in a report on Saturday, August 10th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $71.00.
Shares of NASDAQ DOX traded up $0.51 during midday trading on Friday, reaching $66.69. 11,910 shares of the stock were exchanged, compared to its average volume of 559,646. The firm has a market cap of $9.24 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 1.92 and a beta of 0.40. Amdocs Limited has a twelve month low of $52.60 and a twelve month high of $67.57. The firm has a 50-day simple moving average of $64.18 and a two-hundred day simple moving average of $59.51.
Amdocs (NASDAQ:DOX) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Amdocs had a net margin of 9.90% and a return on equity of 15.70%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $1.03 EPS. On average, analysts forecast that Amdocs Limited will post 4.05 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be given a dividend of $0.285 per share. The ex-dividend date is Friday, September 27th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 1.71%. Amdocs’s dividend payout ratio (DPR) is 30.48%.
Amdocs Limited, through its subsidiaries, provides software and services to the communications, pay TV, entertainment, and media industry service providers worldwide. The company offers amdocsONE a line of services designed for various stages of a service provider's lifecycle, including planning, delivery, implementation, and ongoing support, as well as consumer experience and monetization, media and digital, enterprise and connected society, service-driven network, and services and agile operation solutions.
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