Janney Montgomery Scott LLC trimmed its stake in Amdocs Limited (NASDAQ:DOX) by 29.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,809 shares of the technology company’s stock after selling 11,988 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Amdocs were worth $1,654,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of DOX. Private Advisor Group LLC acquired a new stake in Amdocs during the 2nd quarter valued at $26,000. RMR Wealth Builders acquired a new position in shares of Amdocs during the 2nd quarter worth approximately $42,000. Dupont Capital Management Corp grew its position in Amdocs by 99.7% during the third quarter. Dupont Capital Management Corp now owns 703 shares of the technology company’s stock worth $40,000 after buying an additional 351 shares in the last quarter. WASHINGTON TRUST Co increased its stake in Amdocs by 70.6% during the 2nd quarter. WASHINGTON TRUST Co now owns 923 shares of the technology company’s stock worth $55,000 after acquiring an additional 382 shares during the period. Finally, Morgan Dempsey Capital Management LLC increased its position in shares of Amdocs by 33.4% in the third quarter. Morgan Dempsey Capital Management LLC now owns 1,074 shares of the technology company’s stock worth $62,000 after purchasing an additional 269 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.
DOX has been the subject of a number of recent analyst reports. Oppenheimer reaffirmed a “buy” rating and set a $75.00 price target on shares of Amdocs in a report on Wednesday, August 12th. JPMorgan Chase & Co. upgraded shares of Amdocs from a “neutral” rating to an “overweight” rating and set a $75.00 price target on the stock in a research note on Wednesday, November 11th. ValuEngine raised shares of Amdocs from a “sell” rating to a “hold” rating in a research note on Friday, November 6th. Finally, BidaskClub raised Amdocs from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Amdocs presently has an average rating of “Hold” and an average price target of $75.00.
Shares of NASDAQ:DOX opened at $64.61 on Friday. The business’s 50-day moving average is $58.89 and its 200-day moving average is $60.29. Amdocs Limited has a 1 year low of $44.05 and a 1 year high of $77.29. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 1.70 and a beta of 0.67. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.71 and a quick ratio of 1.84.
Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Tuesday, November 10th. The technology company reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.04. Amdocs had a net margin of 11.94% and a return on equity of 15.57%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The business’s revenue was up 2.2% on a year-over-year basis. Analysts anticipate that Amdocs Limited will post 4.45 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 22nd. Stockholders of record on Thursday, December 31st will be issued a $0.327 dividend. This represents a $1.31 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Wednesday, December 30th. Amdocs’s dividend payout ratio is presently 31.26%.
Amdocs Limited, through its subsidiaries, provides software and services to the communications, cable and satellite, entertainment, media industry, and other service providers worldwide. The company offers amdocsONE, a line of services, including offer end-to-end systems integration, managed, testing, data and intelligence, cloud, digital business operations, and consulting services that address various service provider business imperatives, including consumer experience and monetization, media and digital services, enterprise and connected society, open cloud networks, new domains and disruptions, and services and hybrid operations.
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