State Street Corp Cuts Holdings in Amdocs Limited (DOX)
State Street Corp cut its stake in shares of Amdocs Limited (NASDAQ:DOX) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,927,137 shares of the technology company’s stock after selling 49,614 shares during the period. State Street Corp owned 1.32% of Amdocs Limited worth $124,223,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. FMR LLC lifted its position in Amdocs Limited by 13.6% during the second quarter. FMR LLC now owns 14,342,346 shares of the technology company’s stock worth $924,507,000 after acquiring an additional 1,722,080 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Amdocs Limited by 105,711.6% during the second quarter. Janus Henderson Group PLC now owns 7,431,146 shares of the technology company’s stock worth $479,012,000 after purchasing an additional 7,424,123 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Amdocs Limited by 6.0% during the second quarter. Wells Fargo & Company MN now owns 4,685,936 shares of the technology company’s stock worth $302,057,000 after purchasing an additional 266,473 shares during the period. FIL Ltd increased its holdings in shares of Amdocs Limited by 157.9% during the second quarter. FIL Ltd now owns 4,137,393 shares of the technology company’s stock worth $266,696,000 after purchasing an additional 2,532,928 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Amdocs Limited by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,147,782 shares of the technology company’s stock worth $73,981,000 after purchasing an additional 28,359 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.
Several research analysts have recently commented on the stock. Zacks Investment Research cut shares of Amdocs Limited from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub cut shares of Amdocs Limited from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Barclays PLC reaffirmed a “hold” rating and set a $68.00 target price on shares of Amdocs Limited in a report on Friday, August 4th. Robert W. Baird reaffirmed a “hold” rating and set a $66.00 target price on shares of Amdocs Limited in a report on Friday. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $72.00 target price (up from $68.00) on shares of Amdocs Limited in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $69.88.
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Amdocs Limited (NASDAQ DOX) opened at 66.07 on Monday. The company has a market capitalization of $9.60 billion, a PE ratio of 23.01 and a beta of 0.53. The stock’s 50 day moving average is $64.61 and its 200 day moving average is $64.04. Amdocs Limited has a one year low of $54.91 and a one year high of $67.98.
Amdocs Limited (NASDAQ:DOX) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.06. The company had revenue of $967.00 million for the quarter, compared to analysts’ expectations of $967.04 million. Amdocs Limited had a net margin of 11.11% and a return on equity of 14.75%. Amdocs Limited’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 EPS. On average, analysts anticipate that Amdocs Limited will post $3.81 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Friday, September 29th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Thursday, September 28th. Amdocs Limited’s payout ratio is currently 30.66%.
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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