Wedge Capital Management L L P NC raised its position in shares of Amdocs Limited (NASDAQ:DOX) by 23.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,465 shares of the technology company’s stock after purchasing an additional 2,333 shares during the period. Wedge Capital Management L L P NC’s holdings in Amdocs were worth $816,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. BB&T Investment Services Inc. acquired a new stake in shares of Amdocs in the 2nd quarter worth approximately $118,000. Robecosam AG lifted its stake in shares of Amdocs by 37.8% in the 2nd quarter. Robecosam AG now owns 2,550 shares of the technology company’s stock worth $163,000 after acquiring an additional 700 shares during the period. CENTRAL TRUST Co lifted its stake in shares of Amdocs by 45.0% in the 4th quarter. CENTRAL TRUST Co now owns 3,388 shares of the technology company’s stock worth $222,000 after acquiring an additional 1,052 shares during the period. Prudential Financial Inc. acquired a new stake in shares of Amdocs in the 2nd quarter worth approximately $230,000. Finally, Cerebellum GP LLC acquired a new stake in shares of Amdocs in the 4th quarter worth approximately $246,000. 91.28% of the stock is owned by hedge funds and other institutional investors.
Amdocs Limited (DOX) traded up $0.66 during mid-day trading on Thursday, reaching $65.93. 698,800 shares of the company traded hands, compared to its average volume of 791,990. Amdocs Limited has a fifty-two week low of $58.94 and a fifty-two week high of $71.37. The firm has a market capitalization of $9,361.22, a price-to-earnings ratio of 17.69, a PEG ratio of 2.22 and a beta of 0.52.
Amdocs announced that its board has initiated a share buyback plan on Wednesday, November 8th that permits the company to buyback $800.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 20th. Stockholders of record on Friday, March 30th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, March 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.52%. This is a positive change from Amdocs’s previous quarterly dividend of $0.22. Amdocs’s payout ratio is currently 28.39%.
A number of analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Amdocs from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. BidaskClub lowered shares of Amdocs from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 5th. Zacks Investment Research raised shares of Amdocs from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Friday, November 10th. Oppenheimer reissued a “buy” rating and set a $77.00 target price on shares of Amdocs in a research note on Wednesday, January 31st. Finally, Robert W. Baird reissued a “hold” rating and set a $66.00 target price on shares of Amdocs in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Amdocs currently has an average rating of “Hold” and a consensus target price of $70.71.
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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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