Todd Asset Management LLC cut its position in shares of Amdocs Limited (NASDAQ:DOX) by 19.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 182,932 shares of the technology company’s stock after selling 45,559 shares during the quarter. Todd Asset Management LLC owned 0.13% of Amdocs worth $11,358,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC acquired a new stake in Amdocs during the second quarter valued at approximately $60,000. Meeder Asset Management Inc. boosted its holdings in shares of Amdocs by 47.8% in the 1st quarter. Meeder Asset Management Inc. now owns 1,057 shares of the technology company’s stock worth $57,000 after acquiring an additional 342 shares in the last quarter. CENTRAL TRUST Co boosted its holdings in shares of Amdocs by 56.2% in the 2nd quarter. CENTRAL TRUST Co now owns 1,098 shares of the technology company’s stock worth $69,000 after acquiring an additional 395 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of Amdocs in the 2nd quarter worth approximately $73,000. Finally, Blue Sky Asset Management LLC acquired a new position in shares of Amdocs in the 1st quarter worth approximately $103,000. 90.35% of the stock is currently owned by institutional investors and hedge funds.

Shares of Amdocs stock traded down $0.62 on Friday, hitting $63.74. 503,440 shares of the company’s stock traded hands, compared to its average volume of 627,551. The firm’s 50-day moving average price is $63.55 and its two-hundred day moving average price is $58.66. The stock has a market capitalization of $8.98 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 1.87 and a beta of 0.41. Amdocs Limited has a one year low of $52.60 and a one year high of $67.57.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.08. Amdocs had a net margin of 9.90% and a return on equity of 15.70%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the company earned $1.03 EPS. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. Research analysts expect that Amdocs Limited will post 4.05 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 30th will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, September 27th. Amdocs’s dividend payout ratio is currently 30.48%.

Several research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Amdocs from a “buy” rating to a “hold” rating and set a $67.00 price objective for the company. in a research report on Tuesday, July 16th. ValuEngine upgraded shares of Amdocs from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. JPMorgan Chase & Co. upped their target price on shares of Amdocs from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. BidaskClub upgraded shares of Amdocs from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th. Finally, TheStreet upgraded shares of Amdocs from a “c+” rating to a “b-” rating in a research report on Tuesday, June 4th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $71.00.

Amdocs Company Profile

Amdocs Limited, through its subsidiaries, provides software and services to the communications, pay TV, entertainment, and media industry service providers worldwide. The company offers amdocsONE a line of services designed for various stages of a service provider's lifecycle, including planning, delivery, implementation, and ongoing support, as well as consumer experience and monetization, media and digital, enterprise and connected society, service-driven network, and services and agile operation solutions.

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Institutional Ownership by Quarter for Amdocs (NASDAQ:DOX)

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