Raymond James & Associates raised its position in shares of Amdocs Limited (NASDAQ:DOX) by 18.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 240,516 shares of the technology company’s stock after purchasing an additional 37,571 shares during the period. Raymond James & Associates’ holdings in Amdocs were worth $15,920,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Amalgamated Bank raised its holdings in Amdocs by 5.0% during the 2nd quarter. Amalgamated Bank now owns 16,155 shares of the technology company’s stock valued at $1,069,000 after buying an additional 762 shares during the period. M&T Bank Corp raised its holdings in Amdocs by 8.8% during the 1st quarter. M&T Bank Corp now owns 9,411 shares of the technology company’s stock valued at $628,000 after buying an additional 764 shares during the period. Natixis Advisors L.P. raised its holdings in Amdocs by 1.5% during the 1st quarter. Natixis Advisors L.P. now owns 58,664 shares of the technology company’s stock valued at $3,914,000 after buying an additional 870 shares during the period. Wedge Capital Management L L P NC grew its position in Amdocs by 8.8% in the 2nd quarter. Wedge Capital Management L L P NC now owns 11,650 shares of the technology company’s stock valued at $771,000 after acquiring an additional 944 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in Amdocs by 9.8% in the 2nd quarter. Parallel Advisors LLC now owns 10,582 shares of the technology company’s stock valued at $700,000 after acquiring an additional 945 shares during the last quarter. 91.25% of the stock is currently owned by institutional investors and hedge funds.

Shares of Amdocs stock opened at $66.20 on Monday. The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 2.05 and a beta of 0.51. Amdocs Limited has a 52 week low of $61.00 and a 52 week high of $71.72.

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

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, September 27th. Amdocs’s payout ratio is 28.17%.

Several equities analysts have commented on DOX shares. Citigroup cut their price objective on Amdocs from $79.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, August 2nd. Zacks Investment Research raised Amdocs from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research report on Wednesday, May 23rd. Robert W. Baird reaffirmed a “hold” rating and issued a $72.00 price objective on shares of Amdocs in a research report on Thursday, August 2nd. BidaskClub raised Amdocs from a “sell” rating to a “hold” rating in a research report on Friday, May 25th. Finally, Barclays set a $73.00 price objective on Amdocs and gave the company a “hold” rating in a research report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $72.60.

Amdocs Company Profile

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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