Vanguard Group Inc. boosted its stake in shares of Amdocs Limited (NASDAQ:DOX) by 20.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 710,989 shares of the technology company’s stock after acquiring an additional 121,501 shares during the quarter. Vanguard Group Inc. owned 0.49% of Amdocs Limited worth $45,830,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. OLD National Bancorp IN grew its holdings in shares of Amdocs Limited by 0.6% during the second quarter. OLD National Bancorp IN now owns 4,358 shares of the technology company’s stock worth $281,000 after purchasing an additional 25 shares during the last quarter. CWA Asset Management Group LLC boosted its holdings in Amdocs Limited by 1.8% in the second quarter. CWA Asset Management Group LLC now owns 3,536 shares of the technology company’s stock valued at $228,000 after acquiring an additional 61 shares during the last quarter. Huntington National Bank boosted its holdings in Amdocs Limited by 2.6% in the second quarter. Huntington National Bank now owns 4,565 shares of the technology company’s stock valued at $295,000 after acquiring an additional 117 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in Amdocs Limited by 2.2% in the second quarter. Pzena Investment Management LLC now owns 5,778 shares of the technology company’s stock valued at $372,000 after acquiring an additional 127 shares during the last quarter. Finally, Financial Counselors Inc. boosted its holdings in Amdocs Limited by 3.5% in the second quarter. Financial Counselors Inc. now owns 5,306 shares of the technology company’s stock valued at $342,000 after acquiring an additional 179 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.
Amdocs Limited (DOX) opened at $63.79 on Wednesday. Amdocs Limited has a 1-year low of $56.10 and a 1-year high of $67.98. The stock has a market capitalization of $9,090.50, a PE ratio of 17.67, a price-to-earnings-growth ratio of 2.19 and a beta of 0.53.
Amdocs Limited (NASDAQ:DOX) last released its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.05. The company had revenue of $979.70 million for the quarter, compared to analyst estimates of $977.72 million. Amdocs Limited had a return on equity of 14.77% and a net margin of 11.30%. Amdocs Limited’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.89 earnings per share. equities analysts forecast that Amdocs Limited will post 3.72 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Thursday, December 28th. Amdocs Limited’s dividend payout ratio is currently 29.73%.
Amdocs Limited announced that its board has approved a share buyback program on Wednesday, November 8th that allows the company to buyback $800.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Several research firms recently issued reports on DOX. upgraded Amdocs Limited from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Barclays PLC reiterated a “hold” rating and issued a $68.00 price target on shares of Amdocs Limited in a report on Friday, August 4th. upgraded Amdocs Limited from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Friday, August 4th. reiterated a “buy” rating and issued a $72.00 price target (up previously from $68.00) on shares of Amdocs Limited in a report on Thursday, August 3rd. Finally, restated a “hold” rating and set a $66.00 target price on shares of Amdocs Limited in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Amdocs Limited currently has an average rating of “Hold” and a consensus target price of $70.29.
About Amdocs Limited
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.
Receive News & Ratings for Amdocs Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amdocs Limited and related companies with MarketBeat.com's FREE daily email newsletter.