Legal & General Group Plc lowered its position in shares of Amdocs Limited (NASDAQ:DOX) by 1.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 686,209 shares of the technology company’s stock after selling 10,087 shares during the quarter. Legal & General Group Plc owned 0.48% of Amdocs worth $45,423,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Amalgamated Bank lifted its holdings in Amdocs by 5.0% during the second quarter. Amalgamated Bank now owns 16,155 shares of the technology company’s stock valued at $1,069,000 after purchasing an additional 762 shares in the last quarter. M&T Bank Corp lifted its holdings in Amdocs by 8.8% during the first quarter. M&T Bank Corp now owns 9,411 shares of the technology company’s stock valued at $628,000 after purchasing an additional 764 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in Amdocs by 1.5% during the first quarter. Natixis Advisors L.P. now owns 58,664 shares of the technology company’s stock valued at $3,914,000 after purchasing an additional 870 shares in the last quarter. Wedge Capital Management L L P NC lifted its holdings in Amdocs by 8.8% during the second quarter. Wedge Capital Management L L P NC now owns 11,650 shares of the technology company’s stock valued at $771,000 after purchasing an additional 944 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Amdocs by 9.8% during the second quarter. Parallel Advisors LLC now owns 10,582 shares of the technology company’s stock valued at $700,000 after purchasing an additional 945 shares in the last quarter. 91.23% of the stock is currently owned by institutional investors and hedge funds.

DOX has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Amdocs from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. BidaskClub downgraded shares of Amdocs from a “hold” rating to a “sell” rating in a report on Wednesday, May 16th. Barclays set a $73.00 price objective on shares of Amdocs and gave the company a “hold” rating in a research report on Wednesday, August 1st. Finally, Robert W. Baird reiterated a “hold” rating and set a $72.00 price objective on shares of Amdocs in a research report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $72.60.

Amdocs stock opened at $64.68 on Friday. The company has a market cap of $9.28 billion, a PE ratio of 17.49, a P/E/G ratio of 2.03 and a beta of 0.51. Amdocs Limited has a 1 year low of $61.00 and a 1 year high of $71.72.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Tuesday, July 31st. The technology company reported $0.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.97. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Amdocs had a net margin of 10.56% and a return on equity of 15.00%. sell-side analysts expect that Amdocs Limited will post 3.75 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 19th. Stockholders of record on Friday, September 28th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, September 27th. Amdocs’s payout ratio is currently 28.17%.

About Amdocs

Amdocs Limited, through its subsidiaries, provides software and services solutions to the communications, entertainment, pay TV, and media industry service providers worldwide. The company offers customer experience and monetization solutions that allow its customers to contextual and personalize interactions.

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Institutional Ownership by Quarter for Amdocs (NASDAQ:DOX)

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