Suntrust Banks Inc. Increases Stake in Amdocs Limited (DOX)

Suntrust Banks Inc. increased its position in Amdocs Limited (NASDAQ:DOX) by 14.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,449 shares of the technology company’s stock after buying an additional 3,990 shares during the period. Suntrust Banks Inc.’s holdings in Amdocs Limited were worth $1,978,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in DOX. US Bancorp DE increased its position in shares of Amdocs Limited by 7.4% in the first quarter. US Bancorp DE now owns 30,427 shares of the technology company’s stock valued at $1,856,000 after buying an additional 2,105 shares during the period. Boston Partners increased its position in shares of Amdocs Limited by 9.7% in the first quarter. Boston Partners now owns 7,464,464 shares of the technology company’s stock valued at $455,257,000 after buying an additional 661,397 shares during the period. Genesee Valley Trust Co. purchased a new position in shares of Amdocs Limited during the first quarter valued at approximately $298,000. American Century Companies Inc. increased its position in shares of Amdocs Limited by 55.0% in the first quarter. American Century Companies Inc. now owns 21,459 shares of the technology company’s stock valued at $1,309,000 after buying an additional 7,618 shares during the period. Finally, Advisors Asset Management Inc. increased its position in shares of Amdocs Limited by 18.1% in the first quarter. Advisors Asset Management Inc. now owns 21,217 shares of the technology company’s stock valued at $1,294,000 after buying an additional 3,246 shares during the period. Institutional investors own 89.04% of the company’s stock.

Institutional Ownership by Quarter for Amdocs Limited (NASDAQ:DOX)

Amdocs Limited (NASDAQ:DOX) traded up 1.04% on Friday, hitting $63.97. 666,636 shares of the stock traded hands. Amdocs Limited has a 1-year low of $54.12 and a 1-year high of $64.32. The company has a market cap of $9.38 billion, a price-to-earnings ratio of 23.20 and a beta of 0.64. The stock has a 50-day moving average price of $61.62 and a 200 day moving average price of $60.12.

Amdocs Limited (NASDAQ:DOX) last issued its earnings results on Tuesday, May 9th. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.01. The business had revenue of $966 million during the quarter, compared to analyst estimates of $960.58 million. Amdocs Limited had a return on equity of 14.57% and a net margin of 10.83%. Amdocs Limited’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 earnings per share. On average, analysts anticipate that Amdocs Limited will post $3.79 EPS for the current fiscal year.

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A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Amdocs Limited from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Friday, May 12th. Robert W. Baird boosted their target price on shares of Amdocs Limited from $62.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 10th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $68.00 price target on shares of Amdocs Limited in a research note on Tuesday, May 9th. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $70.00 price target (up from $65.00) on shares of Amdocs Limited in a research note on Tuesday, March 7th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $66.00.

Amdocs Limited Company Profile

Amdocs Limited is a provider of software and services for communications, entertainment and media industry service providers. The Company develops, implements and manages software and services associated with business support systems (BSS), operational support systems (OSS) and network operations to enable service providers to introduce new products and services, process orders, monetize data, support new business models and enhance their understanding of their customers.

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