TIAA CREF Investment Management LLC reduced its position in shares of Amdocs Limited (NASDAQ:DOX) by 22.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,224,271 shares of the technology company’s stock after selling 347,170 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.84% of Amdocs Limited worth $78,917,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CWA Asset Management Group LLC raised its holdings in Amdocs Limited by 1.8% during the second quarter. CWA Asset Management Group LLC now owns 3,536 shares of the technology company’s stock worth $228,000 after purchasing an additional 61 shares in the last quarter. Seven Eight Capital LP raised its holdings in Amdocs Limited by 46.4% during the second quarter. Seven Eight Capital LP now owns 39,100 shares of the technology company’s stock worth $2,520,000 after purchasing an additional 12,400 shares in the last quarter. Symphony Asset Management LLC raised its holdings in Amdocs Limited by 29.7% during the second quarter. Symphony Asset Management LLC now owns 22,854 shares of the technology company’s stock worth $1,473,000 after purchasing an additional 5,228 shares in the last quarter. AJO LP raised its holdings in Amdocs Limited by 36.6% during the second quarter. AJO LP now owns 608,040 shares of the technology company’s stock worth $39,194,000 after purchasing an additional 162,934 shares in the last quarter. Finally, Omnia Family Wealth LLC raised its holdings in Amdocs Limited by 26.4% during the second quarter. Omnia Family Wealth LLC now owns 3,922 shares of the technology company’s stock worth $254,000 after purchasing an additional 819 shares in the last quarter. 89.31% of the stock is owned by hedge funds and other institutional investors.
Amdocs Limited (NASDAQ DOX) opened at 62.49 on Friday. The stock has a market capitalization of $9.08 billion, a PE ratio of 21.77 and a beta of 0.53. The firm has a 50-day moving average of $64.29 and a 200-day moving average of $63.44. Amdocs Limited has a one year low of $54.91 and a one year high of $67.98.
Amdocs Limited (NASDAQ:DOX) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06. Amdocs Limited had a net margin of 11.11% and a return on equity of 14.75%. The company had revenue of $967.00 million for the quarter, compared to the consensus estimate of $967.04 million. During the same period in the previous year, the firm earned $0.90 EPS. Amdocs Limited’s revenue was up 4.0% on a year-over-year basis. On average, equities research analysts forecast that Amdocs Limited will post $3.81 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.41%. Amdocs Limited’s dividend payout ratio (DPR) is 30.66%.
DOX has been the subject of several analyst reports. Zacks Investment Research raised shares of Amdocs Limited from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Friday, August 4th. Stifel Nicolaus reissued a “buy” rating and set a $72.00 price target (up from $68.00) on shares of Amdocs Limited in a report on Thursday, August 3rd. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $70.00 target price on shares of Amdocs Limited in a report on Tuesday, September 5th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $59.00 target price on shares of Amdocs Limited in a report on Friday, June 16th. Finally, BidaskClub raised shares of Amdocs Limited from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $67.63.
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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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