Blue Sky Asset Management LLC acquired a new position in shares of Amdocs Limited (NASDAQ:DOX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,800 shares of the technology company’s stock, valued at approximately $314,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in DOX. BB&T Investment Services Inc. bought a new position in Amdocs during the second quarter worth $118,000. Robecosam AG raised its holdings in shares of Amdocs by 37.8% in the second quarter. Robecosam AG now owns 2,550 shares of the technology company’s stock valued at $163,000 after purchasing an additional 700 shares during the last quarter. CENTRAL TRUST Co raised its holdings in shares of Amdocs by 45.0% in the fourth quarter. CENTRAL TRUST Co now owns 3,388 shares of the technology company’s stock valued at $222,000 after purchasing an additional 1,052 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of Amdocs in the second quarter valued at about $230,000. Finally, Cerebellum GP LLC purchased a new stake in shares of Amdocs in the fourth quarter valued at about $246,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.
Several analysts have recently commented on DOX shares. Robert W. Baird reiterated a “hold” rating and issued a $66.00 target price on shares of Amdocs in a report on Friday, October 20th. BidaskClub upgraded shares of Amdocs from a “strong sell” rating to a “sell” rating in a report on Thursday, January 18th. Zacks Investment Research upgraded shares of Amdocs from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Friday, November 10th. Oppenheimer reiterated a “buy” rating and set a $77.00 target price on shares of Amdocs in a research report on Wednesday, January 31st. Finally, Stifel Nicolaus increased their target price on shares of Amdocs from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $70.71.
Amdocs (NASDAQ:DOX) last issued its earnings results on Tuesday, January 30th. The technology company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.89 by $0.17. The company had revenue of $977.70 million for the quarter, compared to the consensus estimate of $979.13 million. Amdocs had a net margin of 11.72% and a return on equity of 15.13%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 earnings per share. analysts anticipate that Amdocs Limited will post 3.75 EPS for the current fiscal year.
Amdocs announced that its Board of Directors has approved a share buyback plan 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. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 20th. Investors of record on Friday, March 30th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.00 annualized dividend and a yield of 1.52%. This is a boost from Amdocs’s previous quarterly dividend of $0.22. Amdocs’s payout ratio is 28.39%.
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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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