International Value Advisers LLC Cuts Position in Amdocs Limited (DOX)
International Value Advisers LLC lessened its holdings in Amdocs Limited (NASDAQ:DOX) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,514,524 shares of the technology company’s stock after selling 11,549 shares during the quarter. Amdocs comprises approximately 2.9% of International Value Advisers LLC’s investment portfolio, making the stock its 12th largest holding. International Value Advisers LLC owned 1.04% of Amdocs worth $97,414,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of DOX. BB&T Investment Services Inc. acquired a new stake in shares of Amdocs during the 2nd quarter worth approximately $118,000. Acrospire Investment Management LLC acquired a new stake in shares of Amdocs during the 2nd quarter worth approximately $155,000. Robecosam AG grew its stake in shares of Amdocs by 37.8% during the 2nd 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. Sawtooth Solutions LLC acquired a new stake in shares of Amdocs during the 2nd quarter worth approximately $220,000. Finally, CIBC World Markets Inc. acquired a new stake in shares of Amdocs during the 2nd quarter worth approximately $222,000. Institutional investors own 93.24% of the company’s stock.
DOX has been the topic of a number of analyst reports. Oppenheimer reaffirmed a “buy” rating and set a $77.00 price objective (up previously from $70.00) on shares of Amdocs in a research note on Monday, September 18th. Zacks Investment Research raised shares of Amdocs from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Friday, August 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $72.00 price objective (up previously from $68.00) on shares of Amdocs in a research note on Thursday, August 3rd. Barclays reaffirmed a “hold” rating and set a $68.00 price objective on shares of Amdocs in a research note on Friday, August 4th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $66.00 price objective on shares of Amdocs in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Amdocs currently has a consensus rating of “Hold” and an average price target of $70.29.
Shares of Amdocs Limited (NASDAQ DOX) opened at $65.14 on Thursday. Amdocs Limited has a one year low of $56.10 and a one year high of $67.98. The stock has a market cap of $9,482.96, a price-to-earnings ratio of 18.43, a P/E/G ratio of 2.24 and a beta of 0.53.
Amdocs (NASDAQ:DOX) last released its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.05. Amdocs had a net margin of 11.30% and a return on equity of 14.77%. The firm had revenue of $979.70 million for the quarter, compared to analysts’ expectations of $977.72 million. During the same quarter last year, the company earned $0.89 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. research analysts anticipate that Amdocs Limited will post 3.72 earnings per share for the current year.
Amdocs announced that its board has initiated a share repurchase plan on Wednesday, November 8th that authorizes the company to repurchase $800.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be paid a $0.22 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.88 dividend on an annualized basis and a yield of 1.35%. Amdocs’s dividend payout ratio is currently 29.73%.
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Amdocs 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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