WESPAC Advisors SoCal LLC grew its stake in shares of Amdocs Limited (NASDAQ:DOX) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,968 shares of the technology company’s stock after purchasing an additional 1,776 shares during the quarter. Amdocs Limited makes up 2.2% of WESPAC Advisors SoCal LLC’s portfolio, making the stock its 25th largest holding. WESPAC Advisors SoCal LLC’s holdings in Amdocs Limited were worth $3,728,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of DOX. Teachers Advisors LLC boosted its position in shares of Amdocs Limited by 23.2% during the first quarter. Teachers Advisors LLC now owns 228,708 shares of the technology company’s stock worth $13,949,000 after buying an additional 43,089 shares during the period. Vanguard Group Inc. boosted its position in shares of Amdocs Limited by 15.0% during the first quarter. Vanguard Group Inc. now owns 589,488 shares of the technology company’s stock worth $35,953,000 after buying an additional 77,102 shares during the period. HighTower Advisors LLC acquired a new position in shares of Amdocs Limited during the first quarter worth approximately $220,000. Nomura Asset Management Co. Ltd. boosted its position in shares of Amdocs Limited by 313.0% during the first quarter. Nomura Asset Management Co. Ltd. now owns 4,750 shares of the technology company’s stock worth $290,000 after buying an additional 3,600 shares during the period. Finally, Atria Investments LLC acquired a new position in shares of Amdocs Limited during the second quarter worth approximately $218,000. Institutional investors and hedge funds own 91.22% of the company’s stock.

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DOX has been the subject of a number of research analyst reports. BidaskClub downgraded Amdocs Limited from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 16th. Robert W. Baird restated a “hold” rating and issued a $66.00 target price on shares of Amdocs Limited in a research report on Friday, September 1st. Jefferies Group LLC restated a “hold” rating and issued a $70.00 target price on shares of Amdocs Limited in a research report on Thursday, October 12th. Stifel Nicolaus restated a “buy” rating and issued a $72.00 target price (up from $68.00) on shares of Amdocs Limited in a research report on Thursday, August 3rd. Finally, Zacks Investment Research downgraded Amdocs Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Amdocs Limited currently has an average rating of “Hold” and an average price target of $70.29.

Shares of Amdocs Limited (NASDAQ:DOX) traded up $0.66 during trading hours on Friday, reaching $62.66. 664,284 shares of the company’s stock traded hands, compared to its average volume of 670,012. Amdocs Limited has a 52 week low of $56.10 and a 52 week high of $67.98. The firm has a market cap of $9,196.61, a P/E ratio of 17.87, a P/E/G ratio of 2.19 and a beta of 0.53.

Amdocs Limited (NASDAQ:DOX) last posted its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.05. Amdocs Limited had a net margin of 11.30% and a return on equity of 14.81%. The business had revenue of $979.70 million for the quarter, compared to the consensus estimate of $977.72 million. During the same period in the prior year, the business posted $0.89 earnings per share. Amdocs Limited’s revenue for the quarter was up 4.2% compared to the same quarter last year. equities analysts anticipate that Amdocs Limited will post 3.76 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, December 28th. Amdocs Limited’s dividend payout ratio (DPR) is presently 29.73%.

Amdocs Limited announced that its Board of Directors has initiated a share buyback program on Wednesday, November 8th that allows the company to repurchase $800.00 million in shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

About Amdocs Limited

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.

Institutional Ownership by Quarter for Amdocs Limited (NASDAQ:DOX)

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