Amdocs Limited (DOX) Stake Cut by First Mercantile Trust Co.
First Mercantile Trust Co. decreased its stake in Amdocs Limited (NASDAQ:DOX) by 7.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,943 shares of the technology company’s stock after selling 991 shares during the period. First Mercantile Trust Co.’s holdings in Amdocs Limited were worth $770,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Robecosam AG bought a new position in Amdocs Limited during the first quarter valued at about $114,000. Creative Planning raised its position in Amdocs Limited by 62.7% in the first quarter. Creative Planning now owns 2,198 shares of the technology company’s stock valued at $134,000 after buying an additional 847 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Amdocs Limited by 30.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,969 shares of the technology company’s stock valued at $181,000 after buying an additional 696 shares in the last quarter. Atria Investments LLC bought a new position in Amdocs Limited during the second quarter valued at about $218,000. Finally, HighTower Advisors LLC bought a new position in Amdocs Limited during the first quarter valued at about $220,000. Hedge funds and other institutional investors own 89.97% of the company’s stock.
Shares of Amdocs Limited (NASDAQ DOX) opened at 63.64 on Friday. The company has a market cap of $9.29 billion, a PE ratio of 22.11 and a beta of 0.54. The stock’s 50 day moving average price is $65.38 and its 200 day moving average price is $62.73. Amdocs Limited has a one year low of $54.91 and a one year high of $67.98.
Amdocs Limited (NASDAQ:DOX) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06. Amdocs Limited had a return on equity of 14.73% and a net margin of 11.11%. The company had revenue of $967 million during the quarter, compared to analysts’ expectations of $967.04 million. During the same quarter in the previous year, the firm earned $0.90 EPS. Amdocs Limited’s revenue was up 4.0% on a year-over-year basis. Equities analysts predict that Amdocs Limited will post $3.81 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.38%. Amdocs Limited’s dividend payout ratio (DPR) is currently 30.66%.
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Several research firms have issued reports on DOX. Barclays PLC reiterated a “hold” rating and set a $68.00 price objective on shares of Amdocs Limited in a research note on Friday, August 4th. Zacks Investment Research lowered Amdocs Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 price objective on shares of Amdocs Limited in a research note on Wednesday, June 28th. BidaskClub lowered Amdocs Limited from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $59.00 price objective on shares of Amdocs Limited in a research note on Friday, June 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $67.63.
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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