Dimensional Fund Advisors LP grew its stake in shares of Amdocs Limited (NASDAQ:DOX) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,186,262 shares of the technology company’s stock after acquiring an additional 38,480 shares during the period. Dimensional Fund Advisors LP owned 0.82% of Amdocs worth $76,298,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of DOX. FMR LLC raised its position in shares of Amdocs by 13.6% in the second quarter. FMR LLC now owns 14,342,346 shares of the technology company’s stock worth $924,507,000 after buying an additional 1,722,080 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Amdocs by 105,711.6% in the second quarter. Janus Henderson Group PLC now owns 7,431,146 shares of the technology company’s stock worth $479,012,000 after buying an additional 7,424,123 shares in the last quarter. Boston Partners raised its position in shares of Amdocs by 0.4% in the third quarter. Boston Partners now owns 7,139,400 shares of the technology company’s stock worth $459,206,000 after buying an additional 27,688 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Amdocs by 5.3% in the third quarter. Wells Fargo & Company MN now owns 4,932,692 shares of the technology company’s stock worth $317,271,000 after buying an additional 246,756 shares in the last quarter. Finally, FIL Ltd raised its position in shares of Amdocs by 157.9% in the second quarter. FIL Ltd now owns 4,137,393 shares of the technology company’s stock worth $266,696,000 after buying an additional 2,532,928 shares in the last quarter. Hedge funds and other institutional investors own 92.05% of the company’s stock.
A number of brokerages recently issued reports on DOX. Zacks Investment Research downgraded Amdocs from a “hold” rating to a “sell” rating in a research report on Tuesday. Oppenheimer reiterated a “buy” rating and issued a $77.00 price objective (up previously from $70.00) on shares of Amdocs in a research report on Monday, September 18th. BidaskClub cut Amdocs from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 5th. Robert W. Baird reissued a “hold” rating and issued a $66.00 target price on shares of Amdocs in a research note on Friday, October 20th. Finally, Jefferies Group reissued a “hold” rating and issued a $70.00 target price on shares of Amdocs in a research note on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Amdocs presently has a consensus rating of “Hold” and a consensus target price of $70.29.
Amdocs (NASDAQ:DOX) last released its earnings results on Wednesday, November 8th. The technology company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.05. Amdocs had a return on equity of 14.77% and a net margin of 11.30%. The business had revenue of $979.70 million for the quarter, compared to analysts’ expectations of $977.72 million. During the same quarter in the prior year, the firm earned $0.89 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. research analysts predict that Amdocs Limited will post 3.72 EPS for the current fiscal year.
Amdocs declared that its Board of Directors has initiated a share buyback plan on Wednesday, November 8th that authorizes the company to buyback $800.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.32%. Amdocs’s dividend payout ratio (DPR) is currently 29.73%.
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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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