Noesis Capital Mangement Corp Reduces Stake in Amdocs Limited (DOX)
Noesis Capital Mangement Corp lowered its position in shares of Amdocs Limited (NASDAQ:DOX) by 9.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 108,485 shares of the technology company’s stock after selling 11,265 shares during the quarter. Amdocs Limited comprises 2.6% of Noesis Capital Mangement Corp’s holdings, making the stock its 16th biggest position. Noesis Capital Mangement Corp owned 0.07% of Amdocs Limited worth $6,978,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of DOX. BB&T Investment Services Inc. bought a new position in shares of Amdocs Limited in the second quarter worth $118,000. Acrospire Investment Management LLC bought a new position in shares of Amdocs Limited in the second quarter worth $155,000. Robecosam AG increased its position in shares of Amdocs Limited by 37.8% in the second quarter. Robecosam AG now owns 2,550 shares of the technology company’s stock worth $163,000 after purchasing an additional 700 shares during the period. Atria Investments LLC bought a new position in shares of Amdocs Limited in the second quarter worth $218,000. Finally, Sawtooth Solutions LLC bought a new position in shares of Amdocs Limited in the second quarter worth $220,000. 90.88% of the stock is owned by institutional investors.
Amdocs Limited (NASDAQ DOX) traded up $1.25 during trading on Wednesday, reaching $63.79. The company’s stock had a trading volume of 1,092,800 shares, compared to its average volume of 683,520. Amdocs Limited has a 1 year low of $56.10 and a 1 year high of $67.98. The company has a market capitalization of $9,090.50, a PE ratio of 17.67, a PEG ratio of 2.19 and a beta of 0.53.
Amdocs Limited (NASDAQ:DOX) last released its earnings results on Wednesday, November 8th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.05. Amdocs Limited had a return on equity of 14.77% and a net margin of 11.30%. The firm had revenue of $979.70 million for the quarter, compared to analysts’ expectations of $977.72 million. During the same quarter in the previous year, the business posted $0.89 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. sell-side analysts forecast that Amdocs Limited will post 3.72 earnings per share for the current year.
Amdocs Limited announced that its Board of Directors has approved a share buyback plan on Wednesday, November 8th that permits the company to buyback $800.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
The company 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 dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Thursday, December 28th. Amdocs Limited’s payout ratio is 29.73%.
A number of research analysts recently commented on the company. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $77.00 price target (up previously from $70.00) on shares of Amdocs Limited in a research report on Monday, September 18th. Zacks Investment Research upgraded Amdocs Limited from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Friday, August 4th. Barclays PLC reiterated a “hold” rating and issued a $68.00 target price on shares of Amdocs Limited in a research report on Friday, August 4th. Finally, BidaskClub upgraded Amdocs Limited from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Amdocs Limited has an average rating of “Hold” and a consensus price target of $70.29.
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Amdocs Limited 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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