Advisor Group Inc. Increases Position in Amdocs Limited (DOX)

Advisor Group Inc. lifted its holdings in Amdocs Limited (NASDAQ:DOX) by 78.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 13,577 shares of the technology company’s stock after buying an additional 5,972 shares during the quarter. Advisor Group Inc.’s holdings in Amdocs were worth $872,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of DOX. CWA Asset Management Group LLC grew its stake in shares of Amdocs by 1.8% in the 2nd 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 during the last quarter. Huntington National Bank grew its stake in shares of Amdocs by 2.6% in the 2nd quarter. Huntington National Bank now owns 4,565 shares of the technology company’s stock worth $295,000 after purchasing an additional 117 shares during the last quarter. Pzena Investment Management LLC grew its stake in shares of Amdocs by 2.2% in the 2nd quarter. Pzena Investment Management LLC now owns 5,778 shares of the technology company’s stock worth $372,000 after purchasing an additional 127 shares during the last quarter. Financial Counselors Inc. grew its stake in shares of Amdocs by 3.5% in the 2nd quarter. Financial Counselors Inc. now owns 5,306 shares of the technology company’s stock worth $342,000 after purchasing an additional 179 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Amdocs by 2.8% in the second quarter. Parallel Advisors LLC now owns 9,386 shares of the technology company’s stock worth $630,000 after buying an additional 259 shares during the period. Institutional investors own 93.25% of the company’s stock.

Several research analysts have commented on DOX shares. Oppenheimer reiterated a “buy” rating and issued a $77.00 target price (up from $70.00) on shares of Amdocs in a report on Monday, September 18th. Zacks Investment Research upgraded shares of Amdocs from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Friday, November 10th. 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. Jefferies Group restated a “hold” rating and set a $70.00 price target on shares of Amdocs in a report on Thursday, October 12th. Finally, BidaskClub upgraded shares of Amdocs from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Amdocs has a consensus rating of “Hold” and an average price target of $70.29.

Amdocs Limited (NASDAQ DOX) traded down $0.19 during midday trading on Thursday, reaching $64.40. 651,814 shares of the company’s stock were exchanged, compared to its average volume of 691,219. Amdocs Limited has a 1 year low of $56.10 and a 1 year high of $67.98. The firm has a market capitalization of $9,430.00, a PE ratio of 18.33, a PEG ratio of 2.23 and a beta of 0.53.

Amdocs (NASDAQ:DOX) last released its quarterly 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 net margin of 11.30% and a return on equity of 14.77%. The company had revenue of $979.70 million for the quarter, compared to analyst estimates of $977.72 million. During the same quarter last year, the firm posted $0.89 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. equities research analysts anticipate that Amdocs Limited will post 3.72 earnings per share for the current fiscal year.

Amdocs declared that its Board of Directors has initiated a share buyback program on Wednesday, November 8th that authorizes the company to buyback $800.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Investors 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 yield of 1.37%. The ex-dividend date of this dividend is Thursday, December 28th. Amdocs’s dividend payout ratio (DPR) is currently 29.73%.

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About Amdocs

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.

Institutional Ownership by Quarter for Amdocs (NASDAQ:DOX)

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