Millennium Management LLC raised its stake in shares of Amdocs Limited (NASDAQ:DOX) by 102.5% in the 2nd quarter, Holdings Channel reports. The firm owned 93,213 shares of the technology company’s stock after purchasing an additional 47,183 shares during the quarter. Millennium Management LLC’s holdings in Amdocs were worth $6,170,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Amalgamated Bank grew its stake in Amdocs by 5.0% during the second quarter. Amalgamated Bank now owns 16,155 shares of the technology company’s stock worth $1,069,000 after buying an additional 762 shares during the period. Wedge Capital Management L L P NC grew its stake 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 worth $771,000 after buying an additional 944 shares during the period. Parallel Advisors LLC grew its stake in Amdocs by 9.8% during the second quarter. Parallel Advisors LLC now owns 10,582 shares of the technology company’s stock worth $700,000 after buying an additional 945 shares during the period. Arizona State Retirement System grew its stake in Amdocs by 1.7% during the second quarter. Arizona State Retirement System now owns 71,290 shares of the technology company’s stock worth $4,719,000 after buying an additional 1,193 shares during the period. Finally, Macquarie Group Ltd. grew its stake in Amdocs by 2.3% during the second quarter. Macquarie Group Ltd. now owns 60,083 shares of the technology company’s stock worth $3,977,000 after buying an additional 1,351 shares during the period. 90.91% of the stock is owned by hedge funds and other institutional investors.

Several research firms have issued reports on DOX. Zacks Investment Research downgraded shares of Amdocs from a “hold” rating to a “sell” rating in a research note on Friday, September 21st. BidaskClub upgraded shares of Amdocs from a “strong sell” rating to a “sell” rating in a research note on Friday, September 14th. Robert W. Baird restated a “hold” rating and issued a $72.00 target price on shares of Amdocs in a research note on Thursday, August 2nd. Citigroup decreased their target price on shares of Amdocs from $79.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday, August 2nd. Finally, Barclays set a $73.00 target price on shares of Amdocs and gave the company a “hold” rating in a research note on Wednesday, August 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $72.60.

Shares of DOX stock opened at $61.40 on Friday. The firm has a market capitalization of $9.46 billion, a PE ratio of 17.29, a PEG ratio of 2.07 and a beta of 0.52. Amdocs Limited has a twelve month low of $60.50 and a twelve month high of $71.72.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, October 19th. Stockholders of record on Friday, September 28th will be paid a $0.25 dividend. The ex-dividend date is Thursday, September 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.63%. Amdocs’s dividend payout ratio (DPR) is presently 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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